Although the total number of searches was down slightly from the second quarter of 2012, total searches were up 53.1% year-over-year. The $8.6 billion San Diego County Employees' Retirement Association's RFP for an outsourced CIO was one of the largest searches ever. Outsourced CIO hires were led by Federal Way Asset Management and SEI, which garnered the most assets. In the quarter, the $3.65 billion in real asset hires were led by Hastings Funds Management and CoreCommodity Management. ICMA Retirement Corp. led defined contribution hires.