HIRINGS
Florida State Board of Administration, Tallahassee, hired Landmark as a co-inv estment 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 perfor m 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, which supervises about 4% of the fund's assets, into the investment advisory committee, which oversees the remaining 96%. If the consultant recommends eliminating the real estate committee, leg islators 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 manage 5% of the $130 million fund's total assets. Other finalist s were Wellington Management, William Blair and Driehaus Capital. Funding will come from cash. Watson Wyatt assisted.
