Times Mirror Co., Los Angeles, hired Bankers Trust to manage a $60 million core international equity portfolio for its defined benefit plan. The funding for the allocation came from existing managers, none of which was terminated, said Silva Saak, pension analyst for the $1 billion fund.
The search was completed in-house.
Orange County Employees Retirement Association, Santa Ana, Calif., hired Siphron Capital and Cadence Capital, both U.S. large-cap growth equity managers, and Dodge and Cox, a U.S. large-cap value manager. The firms will divide equally about $150 million. The allocation resulted from the $3.8 billion fund's realignment of its equity program.
Another $100 million was allocated to existing manager Boston Partners, a U.S. fixed-income manager that follows the Lehman aggregate index. The money came from fixed-income manager LaSalle Street Capital. The fund wanted to reduce its number of fixed-income managers, said Ray Fleming, retirement fund administrator.
Callan Associates assisted.
Los Angeles Fire & Police Pension System hired Sentinel Real Estate and Urdang to manage separate account opportunistic real estate portfolios, confirmed Thomas Lopez, CIO for the $9.3 billion system. Each firm will receive $80 million. The commitments will be funded from cash. Ronald A. Karp Associates assisted.
Wisconsin Public Service Corp., Green Bay, Wis., hired RCM Capital as a small-cap growth manager for its $150 million nuclear decommissioning trust. RCM initially will run $5 million, which will be increased to $10 million before year end. Mercer assisted.
The Great West Life Assurance Co., Winnipeg, Manitoba, hired Putnam as an international aggressive growth equity manager for its defined benefit plan. The firm will run C$14.6 million (U.S.$10 million). The plan has C$258 million (U.S.$155 million) in assets, according to the Canadian Pension Fund Investment Directory.