SEARCHES & HIRINGS
Seattle City Employees' Retirement System hired ARM Capital Advisors and PIMCO as domestic core fixed-income managers. Each firm probably will manage $100 million, said Executive Director Roger Howeiler. He added portfolio sizes have not been finalized and the $1.2 billion fund is still in contract negotiations with the firms.
ARM and PIMCO replace Phoenix Duff & Phelps, which also took part in the bidding process. Dahab Associates assisted.
Communication Workers of America/International Typographical Union Negotiated Pension Plan, Colorado Springs, Colo., hired three managers to run a total of $170 million for its $900 million fund.
Hired were: Morgan Stanley, large-cap growth equities; Simms Capital Management, large-cap growth equities (with a 10% international stock component); Loomis, Sayles, domestic bonds and small-cap stocks. Funding came from rebalancing. No managers were terminated.
Monitoring and Evaluation Services assisted.
University of Tulsa (Okla.) hired Marque Millennium Group Capital Management as a large-cap value equity manager for its $550 million endowment fund.
The $8 million portfolio will be funded from equity index fund portfolios, none of which will be dropped.
Central Louisiana Electric Co., Pineville, La., selected American Century Investments as bundled provider for its $80 million 401(k) plan.
American Century replaces former trustee State Street Bank and Merrill Lynch as record keeper. CLECO will offer eight American Century mutual fund choices as well as a self-directed brokerage account option.