Northern Illinois Gas, Naperville, Ill., hired Aeltus Investment Management to run $20 million in large-cap growth equities for its defined benefit plan. Doug Ruschau, assistant treasurer, declined to identify source of the funding. The plan has $408 million in assets, according to Nelson's Directory. Callan Associates assisted.
Graco Inc., Minneapolis, invested $10 million of its $80 million defined benefit plan with two large-cap value equity mutual funds. The Davis New York Venture Fund, run by Davis Selected Advisers, and the Washington Mutual Investors Fund, run by Capital Research, got $5 million each.
Officials withdrew from the Gabelli Asset Fund and took $2 million from Fidelity's Aggressive Fund, said Jon Arfstrom, manager treasury services.
The search was conducted in-house.
Genlyte Group, Union, N.J., hired SEI Asset Management as a manager-of-managers for its $39 million defined benefit plan. SEI will oversee 25 managers for the Genlyte plan, which previously used Eagle Capital, Neuberger & Berman and Bank of America as separate account managers, said Neil Bardach, Genlyte CFO.
Only Neuberger & Berman will continue to manage domestic mid- to large-cap equities, though its account was significantly reduced. Specific amounts were not detailed.