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Mandate Wins

Mellon Wins Ohio BWC Account

January 22, 2010 - The $16.9 billion Ohio Bureau of Workers’ Compensation (BWC) has once again made a passive index manager hire for its State Insurance Fund (SIF). The Bureau’s Board of Directors moved Friday to hire Mellon Capital ...

Hoosier State Forms Life Sciences Fund

December 17, 2009 - The $6.9 billion Indiana Teachers’ Retirement Fund (TRF) as well as five other institutional industry leaders capitalized on the state’s “next generation” growth by committing nearly $60 million to a life sciences venture capita ...

CalPERS Closes Infrastructure Search

December 15, 2009 - CalPERS has hired its first lead consultant for its “young infrastructure program,” the Sacramento plan announced yesterday. Westwood, Mass.-based Meketa Investment Group was selected for the account, trumping ...

Northern Trust Refreshes Equity Trading Pool

December 4, 2009 - Seven firms have been added to Northern Trust Global Investments’ (NTGI) list of emerging and minority/women-owned broker dealer list for equity trading, parent company Northern ...

Mass PRIM Trims the Fat on Hedgies

October 14, 2009 - The Massachusetts Pension Reserves Investment Management (PRIM) board voted yesterday to remove four firms from its roster. The Blackstone Group, Crestline Investors...

Treasury Selects Fund Managers for PPIP

July 9, 2009 - The Treasury Department tapped nine asset managers, leaning toward private equity and hedge funds, to help implement its Public-Private Investment Program (PPIP), established to address legacy real estate assets.The general partners are expected to commit a minimum of $20 million to new funds set up for program, required to be at least $500 million in size. The fund managers will have roughly three months to raise the capital, with the Treasury making matching commitments. The…

Munder Creates President Role

July 1, 2009 - Munder Capital Management has selected James FitzGerald to serve as its first ever president, a newly created position in which he will report to John Adams, the firm's CEO and CIO. While retaining his responsibilities as of distribution and chief marketing officer, FitzGerald will now focus on overseeing the firm's growth plans. Prior to joining Munder in 2004, FitzGerald was a senior VP at MFS Investment Management. Earlier in his career he worked at Great West…

Mass. PRIM Removes REIT Manager

June 3, 2009 - The $37.8 billion Massachusetts Pension Reserves Investment Management Board (PRIM) has stripped Wellington Management from the $163 million REIT portfolio it manages at the fund, according to a Boston Globe report. Wellington was terminated due to poor performance and a shift in PRIM's REIT allocation, the report said. During 2008, the Wellington portfolio lost 46%, compared to its benchmark, which lost 37%. The board is also cutting its investments in the space from 3% to 2%. Instead,…

Colorado PERA Goes with Newton for Equity

April 20, 2009 - The $29 billion Colorado Public Employees' Retirement Association has selected Newton Capital Management to oversee a global equity mandate of an undisclosed size. The London-based firm, which is a subsidiary of BNY Mellon Asset Management, started its U.S. business in 2006. This mandate win marks the first appointment for the firm by a U.S. state pension fund. …

Ennis Knupp Wins Mandate

April 9, 2009 - The $50.6 billion Massachusetts Pension Reserves Investment Management (PRIM) has hired Ennis Knupp + Associates to serve as its investment consultant, Reuters has reported. The plan's previous consultant, Cliffwater resigned. PRIM first hired Cliffwater to replace Wilshire Associates in 2005 . Cliffwater, according to the report, ended its contract due to the firm's shift in focus to alternative investments. …

Town of Fairfield Replaces NEPC

April 3, 2009 - The Town of Fairfield joint pension board has tapped Evaluation Associates to assist with its investment decisions. In January, the Connecticut town terminated its contract with consultant NEPC based on advice it received from the firm, resulting in a $42 million investment loss in Bernard Madoff's Ponzi scheme. A report in The Connecticut Post notes that Rogerscasey was also considered for the investment consultant contract.…

L.A. Guns and Hoses Fund Talks REITs

April 2, 2009 - The Los Angeles Fire & Police Pensions (LAFPP) approved recommendations made regarding its REIT managers at a meeting last week. The recommendations, made by staff and real estate consultant, The Townsend Group, included that the board allow its contract with Adelante Capital Management to expire.

Ohio SERS Adds to Manager Roster

April 2, 2009 - Manning & Napier Advisors, Neuberger Berman Group and Oaktree Capital Management have been added to the manager roster at the School Employees' Retirement System of Ohio (SERS). Tim Barbour, spokesman for the $7.9 billion plan , said the board hired Manning & Napier and Neuberger Berman to manage up to $150 million each in large-cap domestic equity mandates, according to the highlights of the plan's March meeting.

Iowa PERS Approves Portable Alpha Changes

April 1, 2009 - The Iowa Public Employees' Retirement System (IPERS) has approved suggestions made by consultant Wilshire Associates regarding changes to its portable alpha strategy, said Karl Koch, CIO with the $16.9 billion plan. The board decided to 'discontinue the enhanced cash portable alpha strategy with Smith Breeden Associates by taking off the S&P 500 futures 'beta' component and have the firm liquidate the remaining_ securities in the portfolio in an orderly manner,' Koch said. Robin Schoen, spokeswoman for Smith…

New Investments for Arizona Safety System

March 27, 2009 - Jim Hacking, administrator at the $7.3 billion Arizona Public Safety Personnel Retirement System (PSPRS), said its investment committee recently authorized a $20 million commitment in Longworth Venture Partners' Fund III. He explained that the Longworth fund is designed to invest in early stage technology companies, an area of private equity to which the PSPRS does not currently have exposure and that this investment would help to add diversification to the plan's private equity portfolio. …