Sun Chemical Corp., Fort Lee, N.J., hired Standish, Ayer & Wood to manage small-cap equities and Nicholas-Applegate Capital to run international equities. Each will run 9% of its $150 million defined benefit plan, or about $13 million.
Assets came from termination of John Hancock Capital Growth Management. Asset allocation changes were the reason for the termination, said David Lieber, manager of treasury financial management. The search was completed in-house.
Indiana University Foundation, Bloomington, hired Snyder Capital Management for its $600 million fund, said Walter L. Koon Jr., vice president and director-investments. Snyder will run $40 million in small- to midcap value equities. Assets will come from a reallocation. Fund Evaluation Group assisted in the search.
Stanislaus County Retirement Association, Modesto, Calif., hired Putnam to run $20 million in its core international equity commingled fund. Putnam beat out Capital Guardian and Scudder, Stevens & Clark for the $675 million fund's new mandate. Assets will come from cash. SEI Capital Resources assisted.