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Texas Plan to Add CIO Role

The $1.7 billion City of Austin Employees' Retirement System (COAERS) will soon hire its first-ever CIO at the plan, said Stephen Edmonds, executive director at the plan. Edmonds explained that the board plans to conduct a search for the new position, however the details and timing of the search have yet to be completely finalized. According to the most recent financial summary on the plan's Web site, COAERS' asset allocation consists of 15.53% non-large-cap domestic stocks,…

Illinois TRS Expands Emerging Manager Program

The Teachers' Retirement System of the State of Illinois (TRS) will be expanding its $500 million emerging manager program, said Eva Goltermann, spokeswoman for the $38.7 billion plan. The program, which had earlier encompassed only the public market asset classes, will now also include investments in private equity, real estate and absolute return. Goltermann noted that up to 10% of the program could go into private equity investments. 'TRS staff will take the lead in identifying…

New York TRS Adds More PE, RE

The $105 billion New York State Teachers' Retirement System (NYSTRS) has beefed up its holdings in private equity and real estate. At its meeting last month, the board voted to commit up to $50 million in Caltius Partners IV, up to $175 in CS Strategic Partners IV, up to E50 million in Hutton Collins Capital Partners III and up to $75 million in ABRY Partners VI. The board also approved investments of up to $100 million…

Texas TRS Hires for Partnership Program

The Teacher Retirement System of Texas (TRS) has partnered with four firms for its new Strategic Partnership Program. The program is designed to focus on long term partnerships with the four managers and will utilize the full global capabilities of each of the selected firms.

Pa. SERS Approves New Investments

The Pennsylvania State Employees' Retirement System (SERS) has made new commitments in real estate and private equity, said Robert Gentzel, spokesman for the plan. The board approved investments of up to $75 million in Oculus Small-Cap Real Estate Fund I and up to $25 million in Lubert-Adler Real Estate Fund VI. On the private equity side, commitments of up to $40 million to ABS Capital Partners VI, up to $50 million each in Lime Rock Partners…

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Jersey State Adds To Alternatives

The New Jersey State Investment Council (NJSIC) has added four new investments to its alternative portfolio, confirmed Tom Bell, spokesman with the state's department of the treasury. The council approved a $75 million hedge fund investment with Ironbound Capital Management, as well as a $100 million private equity investment in Fairview's Capstone II NJDOI Emerging Manager Separate Account.

Abbott Picked By Baltimore Employee Plan

Private equity manager Abbott Capital Management has been hired by the $1.4 billion Baltimore Employees' Retirement System. The firm will receive a $40 million commitment to be invested in the Abbott Capital Private Equity Fund VI. An agenda for a June 18 City of Baltimore board of estimates meeting states that the plan has previously invested in two funds with the manager.

New Mexico ERB Hires for Alternatives

New investments in infrastructure, real estate and private equity recently received the green light at the $9.4 billion New Mexico Educational Retirement Board (NMERB), said Bob Jacksha, CIO at the Sante Fe plan. He noted that the board approved infrastructure investments of $50 million each to Citi Infrastructure Partners and Alinda Infrastructure Fund II, which gets the plan close to its target for the asset class. In real estate, the board also committed $50 million in Prima Mortgage Investment Trust. A $50 million private equity investment in Levine Leichtman Capital Partners IV was also approved.

Arkansas Approves New Investments

The Arkansas Teacher Retirement System (ATRS) made new investments in private equity and real estate investments at a meeting earlier this month. According to published reports, the board approved a $50 million private equity commitment in Vista Equity Partners' Equity III fund, which invests in software firms.

Morgan Stanley, AEW in at Orange County

The Orange County Employees Retirement System (OCERS) has selected AEW Capital Management and Morgan Stanley Real Estate Advisors to oversee $25 million each in real estate core open-end commingled funds, confirmed Robert Kinsler, spokesman for the $8 billion California plan. Kinsler said that AEW was selected because of its discounted fee structure, strong, research driven investment process and the existing relationship that the fund has with the manager. Morgan Stanley was awarded the mandate because of its long-term track record, diversified portfolio, investment team and the quality of the assets in its portfolio.

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