Delaware PERS appoints equity, private equity managers
By Hazel Bradford | January 16, 2013 12:23 pm
Delaware Public Employees' Retirement System, Dover, hired Bares Capital Management to run $50 million in small-cap equity and committed $40 million to Lightstone Ventures.
Funding will come from reducing by $25 million each a passive U.S. equity fund run by Mellon Capital and Oaktree's domestic convertible bond mandate.
Pension administrator David Craik said in an interview that the $7.7 billion pension fund has a large cash account and will consider further mandates on a monthly basis.