Ohio School Employees' Retirement System, Columbus, hired Aeltus Realty Investors and CIGNA Retirement and Investment Services to manage $140 million in real estate commingled funds, said Paul Kubinsky, director of investments. Aeltus will run $50 million; CIGNA, $90 million. The funding for the new allocations came from cash. Frank Russell is consultant.
The $5.2 billion fund has 8.5% of its assets in real estate, 44.6% in U.S. equity, 29.5% in U.S. fixed income, 9.3% in non-U.S. equity, 0.7% in venture capital and the rest in cash.