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City of Knoxville Creates New Allocations

The $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within…

Iowa Regents Examines Assets

The $1.8 billion Board of Regents for the State of Iowa is currently undergoing a review of its asset allocation, said Chief Business Officer Patrice Sayre. 'This is a formal review with our financial investment advisor, Wilshire Associates,' she said, adding that plan changes will be brought to the August Board of Regents meeting for discussion and anticipated approval. According to the minutes for the Regents April meeting, the board will consider increasing its investments in real…

Do-Over for Taunton's International Equity Search

It's the second time around for the Taunton Retirement System as the plan has reissued an RFP for an international core equity mandate with emerging markets exposure, confirmed Paul Slivinski, executive director with the $190 million plan. The plan first launched the $13 million search in March (See IMW, 3/17/08). Slivinski explained that there was an issue with the minimum criteria, which caused the board to start from scratch and reissue the RFP. He explained…

Pa. County Plan Doubles Up on Hedge Funds

The Susquehanna County Retirement Fund has increased its allocation to hedge fund investments to 10%, up from the previous 5% the plan had allotted to the asset class, said Cathy Benedict, county treasurer and retirement board member. Benedict said that the board agreed to the doubling of the hedge fund allocation after it was recommended by the plan's consultant, The Seneca Group. Seneca will present hedge fund recommendations to the board during its next quarterly report.…

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…

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Bayou Cop Fund Interviews Finalists

The board of the Louisiana Municipal Police Employees' Retirement System (LAMPERS) interviewed finalists in its searches for international small-cap equity, international emerging markets, and domestic large-cap value equity managers, according to the agenda from its June 18-19 meeting. American Century Investment Management, Batterymarch Financial Management, Dimensional Fund Advisors (DFA) and Mondrian Investment Partners were considered for the international small-cap search.

Norwood RS Hunts For Equity Manager

The Town of Norwood Contributory Retirement System is looking to hire a large-cap growth domestic equity manager to oversee roughly $10 million. Debra Lorenzo, administrator at the Massachusetts plan, referred all questions regarding the search to Susan Rawley, the plan's consultant with Mercer.

Luzerne Seeks Consultant, Custodian

The roughly $200 million Luzerne County Employees' Retirement & Trust has issued an RFP for a firm to provide investment advisory and custodial services. Proposals for the mandate are due Aug. 15. The fund currently uses Merrill Lynch Consulting Services Group as its investment advisor.

Ann Arbor to Go the Alternative Route

After much back and forth on the issue, the $413 million Ann Arbor Employees' Retirement System will be allocating up to 10% of its total portfolio to alternative investments. According to recently released minutes of its May meeting, the Michigan plan approved the measure following years of education from its consultant Gray and Company. Just last May, Ann Arbor considered launching a foray into alternative investments (See IMW, 5/28/07).

Marin Looks At Private Equity, Real Estate

The investment committee of the Marin County Employees' Retirement Association (MCERA) discussed the possible issuance of an RFI for a private equity fund gatekeeper at its meeting earlier this month. The committee is interested in a gatekeeper who could help the board with identification of opportunities in the asset class and to assist with implementation of private equity strategies to diversify the plan's assets.

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