Anne Arundel Retirement Systems, Annapolis, Md., hired two managers following a rebalancing of the $550 million fund's assets.
Hired were Western Asset Management for a $25 million U.S. bond portfolio and LaSalle Partners for a $15 million real estate portfolio. Assets came from cash and a reduction in the domestic equity portfolio of Aeltus Investment Management. Aeltus will continue to manage $110 million, said Al Warfield, assistant financial officer of the fund. Mercer assisted.
Ohio Public Employees' Retirement System, Columbus, hired Capital Guardian for a $300 million broad international equities portfolio, said Joel Buck, investment director. Assets came from cash. The $39.6 billion fund did not use a consultant, he said.