Alaska Permanent Fund trustees, Juneau, voted to hire AEW Capital Management to manage a $300 million REIT for the $19 billion fund, said Jim Kelly, director-communications.
Funding could come from a reallocation. The trustees haven't decided specifics.
Chicago Firemen's Annuity Benefit Fund hired Invista Capital and Invesco to manage active core international equity portfolios of $25 million each.
The firms replace J.P. Morgan, which was terminated because of poor performance, said Ken Kaczmarz, executive director of the $1 billion fund.
Mercer assisted. A J.P. Morgan spokeswoman declined to comment.
Pontiac (Mich.) Policemen and Firemen Retirement Fund hired PNC Equity Management, Loomis Sayles and STI Capital Management as small-cap managers.
PNC will manage $10 million in small-cap growth equity, Loomis $10 million in small-cap value and STI $5 million in small-cap value. The firms replace Kennedy Capital Management, which was terminated because of poor performance.
Kennedy managed $18.3 million for the $208 million fund. Officials at Kennedy could not be reached for comment.
The rest of the funding for the hires came from cash. Callan assisted