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April 10, 1997 01:00 AM

SEARCHES & HIRINGS Skillman Foundation, Detroit, is searching for a...

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    SEARCHES & HIRINGS

    Skillman Foundation, Detroit, is searching for a mid- to large-cap equity manager to run $60 million. The $450 million foundation is considering active and passive managers to replace an unidentified firm, said Richard Connell, vice president and treasurer. The search could conclude as early as mid-June. Evaluation Associates is assisting.

    Memorial Sloan-Kettering Cancer Center, New York, committed money to alternative investment for its $1.5 billion general fund. Hired were: Emerald Partners and Feirstein Partners, for $10 million each in U.S. equity hedge funds; Davidson Kempner, $15 million in an M&A arbitrage fund; Contrarian Capital, $10 million in distressed securities; Sofaer Capital, $15 million in a global hedge fund; and Omega Institutional, $10 million in a global macrohedge fund.

    Another $100 million will be awarded to venture capital managers already selected.

    Assets for the new allocation came from U.S. equity managers; none was terminated.

    Cambridge Associates assisted.

    Missouri Local Government Employees Retirement System, Jefferson City, replaced two money managers with firms started by members who left the incumbent firms.

    Chartwell Investment Partners was hired to manage $330 million in U.S. equity previously run by Delaware Investment Advisers. Rockwood Capital Advisers will get $100 million in U.S. fixed income previously managed by Boatmen's Trust. Delaware and Boatmen's were both terminated after the departures last month of the teams who managed the portfolios for the $1.5 billion fund.

    Staffers from Delaware formed Chartwell; the staffers who left Boatmen's formed Rockwood. Summit Strategies assisted.

    Four companies hired Galliard Capital Management to manage fixed income.

    Fingerhut Corp., Minneapolis, hired Galliard for a $66 million stable value pooled fund for its $200 million defined contribution plan, a spokesman said. Galliard was brought in to consolidate various GICs.

    INTRUST Bank, Wichita, Kan., hired Galliard to manage two taxable fixed-income mutual funds: a $36.3 million short-term bond fund and a $31.3 million international bond fund, said Dave Ferry, vice president of client services.

    Great Western Bank, Los Angeles, is using Galliard and record keeper National Deferred Compensation to create a stable value pooled fund option for the bank's deferred compensation clients.

    Londen Insurance Group, Phoenix, Ariz., hired the firm to manage U.S. fixed-income. Larry Schuneman, vice president and CEO, would not provide details.

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