SEARCHES & HIRINGS
Public School Teachers' Pension & Retirement Fund of Chicago is conducting an emerging minority manager search.
The $8 billion fund will be considering minority- or female-owned firms that manage between $10 million and $400 million. Firms owned by disabled persons also will be included. The fund completed a similar search five years ago. The search is limited to U.S. equity and U.S. bond managers.
The portfolio size has yet to be determined, as does the number of managers. RFPs are due Nov. 21. Mercer Consulting is handling responses from managers.
The fund has $60 million set aside for new emerging minority managers. It now employs five women- and minority-owned firms managing about $370 million,
Massachusetts Bay Transportation Authority, Boston, hired McKinley Capital to manage a $10 million hedge fund. The $10 million is new money, said John Gallahue, executive director of the MBTA's $1.6 billion fund. Callan assisted.
Also, MBTA is following alternatives consultant William Managle, formerly with the Hannah Consulting Group, to his new job at the Wellesley Group. Mr. Managle begins at Wellesley Nov. 3. MBTA now will use Wellesley Group for alternative consulting instead of Hannah, Mr. Gallahue said.
CSK Software NA Inc., Danbury, Conn., retained NYL Benefit Services as bundled provider for its new $5 million 401(k) plan. NYL will provide record-keeping, administration and investment management services.
CSK picked eight investment options: Janus Worldwide Fund; T. Rowe Price Small Cap Fund; MainStay Capital Appreciation Fund; MainStay Value Fund; MainStay Indexed Equity Fund; Dodge & Cox Balanced Fund; Dodge & Cox Income Fund; and a New York Life GIC