Illinois State Board of Investments, Chicago, with $5.5 billion in assets, committed $40 million to four private equity funds, said Jane Patterson, executive director. The funds, which will receive $10 million each, are: Mesirow Capital Partners VII, Cornerstone Equity Partners IV, WPG Venture Associates IV and Frontenac VII.
Ms. Patterson said the board is not likely to make more venture capital commitments through the end of its fiscal year, June 30.
Idaho Public Employees Retirement System, Boise, hired six equity managers. MFS Asset Management was hired to manage $103 million in its MFS Best Ideas Portfolio, said the fund's consultant, Doug Dorn, principal at Dorn, Hellieson & Cottle. The portfolio is an all-cap growth product that invests in about 90% U.S. equity and 10% non-U.S. equity. Also hired were: Tukman Capital Management, $105 million in U.S. equity; Brandes Investment Partners, Scudder Stevens & Clark and Zesiger Capital, $105 million each in global equities; and Genesis Capital, $60 million in emerging markets equities. Assets came from existing allocations, primarily passively managed portfolios,
