Whitman Corp., Rolling Meadows, Ill., hired Barclays as the sole manager for its $100 million pension fund, said Andrew Stark, senior financial analyst for Whitman.
Barclays also was hired as sole manager for the pension funds of Hussmann International and Midas Inc., which recently were spun off from Whitman. Hussmann's plan has $125 million in assets; Midas' plan has $50 million.
Barclays will run portfolios for all three companies tracking the S&P 500, Wilshire 4500, EAFE and Lehman Aggregate indexes. Each fund will invest roughly 70% in stocks and 30% in bonds. The search was done internally.
Before the spinoffs, the Whitman plan used several active managers, Mr. Stark said. He would not name the terminated managers.
Anne Arundel Retirement Systems, Annapolis, Md., hired three managers for its $700 million pension fund, said Thomas W. Mullenix, director-employee benefits.
Farrell-Wako Global and Lazard Asset Management were assigned $25 million each for U.S. small-cap equities; and Capital Guardian, $51 million for non-U.S. equities. The systems also added $16 million each to the portfolios of ABKB LaSalle, a REIT manager, and Cigna Real Estate. ABKB LaSalle now will manage $34 million; Cigna will run $36 million.
Funding came from two firms dropped in a reallocation: BEA, which ran $20 million in non-U.S. equities; and MacKay-Shields, which ran $115 million in U.S. large-cap growth stocks. Mercer assisted.