SEARCHES & HIRINGS
Florida State Board of Administration, Tallahassee, hired Landmark as a co-investment program private equity manager and Hamilton Lane as private equity consultant. Landmark will initially oversee $250 million for the $70.5 billion fund. The funding will come from new contributions. Hamilton Lane will perform due diligence and assist with relationship oversight and strategic planning.
Virginia Retirement System, Richmond, approved a $50 million investment in The Hines U.S. Development Fund, a real estate partnership investing in the development of suburban office buildings, said Bill Sullivan, a spokesman. Funding will come from cash.
The fund also approved hiring a consultant to study the board's structure. The $27.2 billion system also is considering folding its real estate advisory committee into the investment advisory committee. Legislators would have to approve the change.
New Haven (Conn.) Employees Retirement Fund hired New Amsterdam Partners as its first midcap equity manager. The firm will run 5% of the $130 million fund's total assets. Other finalists were Wellington Management, William Blair and Driehaus Capital. Funding will come from cash. Watson Wyatt assisted.