DeKalb Employee Retirement System, Decatur, Ga., hired GLOBALT and Peachtree Asset Management as U.S. core growth equity managers handling $25 million each. Funding will come from a portfolio managed by INVESCO, leaving the manager with $155 million in equity assets. The firm's $124 million bond portfolio will remain untouched. The board hired the two firms for diversification, said Betty Barton, administrator and employee benefits manager for the $830 million fund. Callan Associates assisted.
Cherokee Eastern Band, Cherokee, N.C., hired Kalson & Associates as its first consultant for the $30 million endowment fund and $10 million minors fund.
Kalson will be looking at the band's investment policy and doing an asset allocation study that should be completed before the end of the year.
Currently, First Citizens Bank is balanced manager for the endowment and Merrill Lynch is balanced manager for the minors fund.
The Boy Scouts of America, Irving, Texas, picked Bankers Trust as master custodian and trustee for its combined $750 million endowment and pension plans. Bankers, which replaces NationsBank, also will provide performance measurement, investment management and benefit payment services. Boy Scouts officials declined to disclose additional details of the move.