St. Vincent's Hospital Foundation, Indianapolis, hired Conseco as a core U.S. equity manager for its $70 million in assets, said Frank Bentz, vice president for development. The firm will run $2 million. Funding will come from cash, rebalancing and termination of a local manager Mr. Bentz wouldn't name. The search was done internally.
Mr. Bentz will be retiring by year end. His replacement should be named within the next three to four weeks, he said.
Catholic Diocese of Orlando (Fla.) pension fund, hired STI Capital to manage $5 million in its small-cap value strategy, said Ruth Cannady, pension benefits coordinator. The $34 million fund, which had no money in small-cap stocks before, pared investments with large-cap managers Bessemer Trust and DePrince, Rade & Zollo to fund STI