Marshfield Clinic, Marshfield, Wis., hired Sasco Capital as a small-cap value and Rosenberg Institutional as a midcap to large-cap value stock manager for its $525 million money purchase plan.
Sasco will run $60 million and Rosenberg $25 million, which will come from two portfolios managed by custodian Northern Trust. Northern will retain a small amount of assets in index funds, said Tom Bauer, retirement plans manager. Jeffrey Slocum assisted.
Rite Aid Corp., Harrisburg, Pa., hired Prudential Investments to provide semi-bundled services for the nearly $400 million profit sharing and 401(k) retirement savings plan of Thrifty Payless Inc. Rite Aid acquired Thrifty Payless in December and is keeping the plan separate from its own $300 million defined contribution plan, said Thomas Foley, Rite Aid's director of retirement and savings plans.
Prudential will provide the same plan services used in the Rite Aid plan: daily valued record keeping; administrative services; custody; employee communications and education, and some of the 11 investment options.
Mount Holyoke College, South Hadley, Mass., will commit to the Odyssey Partners U.S. private equity fund. The fund will use assets formerly invested in Odyssey's hedge fund, which was liquidated.
Jan Albano, director of treasury operations, would not disclose how much will be committed. The decision to add the private equity fund to the $299 million fund's alternative investments allocation stemmed from its previous relationship with the firm, she added.