Arlington County Employees' Retirement System, Arlington, Va., with around $900 million in assets, hired Trinity Investment to manage $70 million in a large-cap core portfolio and Sanford C. Bernstein to manage $70 million in large-cap value stocks, said Bruce O. Kallos, administrator. Funding came from terminating Donald Smith & Co., a mid-and large-cap value manager that had run about $70 million for the fund, and cutting back its exposure to BEA Associates, a mid-and large-cap value manager, whose portfolio was cut to $75 million from $145 million.
``We were significantly overweighted in (domestic) midcap, and this maintains a modest overweighting to midcap,'' Mr. Kallos said.
Detroit General Retirement System has hired T.T. International for a $60 million global equities portfolio. Funding will come from the termination of Wellington, which managed that global equities portfolio for the $2.5 billion fund. New England Pension Consultants assisted, said Joe Glanton, the fund's assistant administrative supervisor.
Maritz Inc., Fenton, Mo., hired Buford Dickson Harper & Sparrow for its $116 million pension fund, said David Fleisher, senior executive vice president and chief financial officer. The firm will manage $500,000 in growth equities. Funding will come from pension contributions and a reallocation.