Illinois Municipal Retirement Fund, Oak Brook, Ill., hired Pyrford International to manage $200 million in international equities. Pyrford will replace Nomura Capital, which was terminated, said Walt Koziol, director of investments for the $10.3 billion fund. Nomura officials did not return calls. Mercer assisted.
Separately, Segal Co. was hired to study defined benefit and defined contribution plan designs that are being used nationally. It is too early to say if trustees will be considering structural changes, said Mr. Koziol. No schedule was established to complete the research.
University of Washington endowment, Seattle, committed $10 million to the Varde Bankruptcy Fund. The source for the new commitment has yet to be determined, said Alison Borland, assistant treasurer. The $448 million fund is in the process of considering other alternative commitments with help from Cambridge Associates.
Philadelphia Municipal Pension Fund trustees selected the Ivy International fund as the first international stock option for the city's $185 million deferred compensation plan, said Joseph J. Herkness, director. The plan now has five investment options