SEARCHES & HIRINGS
Battle Creek (Mich.) Police & Fire Retirement System will interview Comerica, Michigan National and incumbent Old Kent Bank in its search for a custodian for the $83 million fund.
A decision is expected next month. McDonald & Co. is assisting.
Mobile (Ala.) Police and Firefighters' Relief Fund hired Lazard Freres as a small-cap equity manager to handle $5 million.
The $50 million fund has yet to finalize the contract and to move the assets from State Street Global's $30 million Russell 3000 index portfolio.
Hannah Group assisted.
City of Melbourne (Fla.) Municipal Police Officers Pension Trust Fund hired Glickenhaus & Co. to manage its entire $23 million fund in a balanced portfolio, said Tina Casey, secretary. Glickenhaus replaces NationsBank.
The fund also is looking for a new custodian, but no further information was available. Foster & Foster is assisting.
Rhode Island State Investment Commission, Providence, committed a total of $42 million to alternative investments.
The $5.5 billion fund will commit $12 million to OCM Opportunity Fund II, a distressed debt and equity fund; $15 million to Wellspring Capital Partners II, which invests in undermanaged or underperforming companies; and $15 million to Harvest Partners II, which invests in multinational divestitures.
All commitments are subject to contract negotiations. The allocations bring the fund's commitment to alternatives to $156 million; its target is $413 million.
Pacific Corporate Group assisted.
San Diego County Employees' Retirement Association, San Diego, committed $10 million to the Oak Tree Opportunities Fund II, a distressed debt fund, said Robert Snigaroff, investment officer for the $3.3 billion fund.