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January 16, 1998 12:00 AM

HIRINGS Phoenix City Employees' Retirement System hired Cadence...

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    HIRINGS

    Phoenix City Employees' Retirement System hired Cadence Capital as a large-cap growth manager.

    Cadence will run a $170 million portfolio previously handled by Chancellor, which was terminated last year by the $1 billion fund. Other finalists in the manager search were: Alliance Capital, Goldman Sachs and Montag & Caldwell. Becker, Burke assisted.

    Rhone-Poulenc Rorer, Collegeville, Pa., hired Putnam as the first convertible securities manager for its defined benefit plan. The $24 million mandate will be funded by the rebalancing of the $250 million fund.

    Yanni-Bilkey assisted.

    Illinois State Board of Investment, Chicago, today decided to commit $35 million each to Apollo Real Estate Fund III and Lazard Freres Strategic Realty Investors II, both opportunistic real estate funds.

    The $6.7 billion pension fund still has about $40 million allocated to real estate that has yet to be invested. Funding will come from cash.

    The board also considered ColonyInvestors III Fund and a separate account relationship with ABKB/LaSalle Securities. The Townsend Group assisted.

    The state of Maine 457 plan hired State Street Global Advisors as the first non-insurance company to offer investment options, said Carol Whitney, state controller.

    State Street will offer index funds. The number is still under discussion. The plan has $130 million in assets.

    The plan is retaining the three incumbent providers, Aetna, Hartford and VALIC. In all, they offer more than 30 investment choices, including outside mutual funds.

    Participants may invest with only one provider because of administration limitations. Ms. Whitney said officials are considering making two available.

    Spectral Sciences Inc., Burlington, Mass., named American Century as bundled service provider for its $5 million 401(k) plan. American Century will provide administration, record keeping, investment education and 15 investment funds. Harris Administrators was the previous record keeper and offered four mutual fund investment options.

    Integral Peripherals, Boulder, Colo., hired American Century as bundled provider for its $3 million 401(k) plan. American Century will provide administration, record keeping, communications and 10 mutual fund investment options. In addition, Integral will use the J.P. Morgan Diversified Fund and a self-directed brokerage option through Charles Schwab.

    The previous record keeper was Trust Consultants, which also offered mutual fund investment options.

    A spokeswoman for Integral declined to provide details.

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