Purdue University, West Lafayette, Ind., hired Warburg Pincus as its fourth international equity manager for its $800 million endowment fund.
The firm was hired to boost exposure to international equities, said James E. Benken, director of investments. He would not reveal the amount of the assignment or source of funding.
The search was conducted in-house.
DeWitt Wallace-Reader's Digest Fund, with $946 million, and the $734 million Lila Wallace-Reader's Digest Fund hired three managers, said Rob D. Nagel, CFO and treasurer of both New York funds.
EII Realty Securities will manage a portfolio of REIT securities; Wellington Trust will manage an energy fund; and the funds invested in a TA Associates Realty real estate partnership.
The amount assigned to each was unavailable. Assets came from a reallocation. Cambridge Associates assisted.
Civic Employees Superannuation and Benefit Plan and the Police Superannuation and Benefit Plan, Regina, Saskatchewan, hired Connor Clark & Lunn Investment Management, said Gary Tramer, general manager-pensions and benefits for the plans, with combined assets of C$550 million (U.S. $395 million).
The firm will be assigned C$150 million for a balanced portfolio of Canadian stocks and bonds.
Elliot & Page was terminated.
Teamsters Local 786, Chicago, hired Oppenheimer as a balanced manager and Weiss, Peck & Greer as an equity manager for its $150 million pension fund.
Each will manage $12 million. Assets will come from LaSalle Bank, which had been the fund's sole manager.
Also, the fund is conducting an asset allocation study to be completed by late May. Manager searches are expected to begin after completion of the study, said Jeff Hoff, administrator.
Smith Barney is assisting.