HIRINGS
Pennsylvania State Employes' Retirement System, Harrisburg, will allocate $95 million to private equity funds. The $21 billion system committed $40 million to Lexington Capital Partners II, up to $30 million to Halpern Denny Fund II, and up to $25 million to Polaris Ventures II. The allocations will be funded from cash.
Norfolk County Retirement System, Dedham, Mass., yesterday picked four new U.S. equities managers: Zak Capital for midcap growth; Boston Co. for midcap value; Harbor Capital for large-cap growth; and Freedom Capital for large-cap value, said Timothy Cahill, county treasurer.
Funding will come from reducing the size of State Street Global's passive equity portfolio.
The $309 million system will give $24 million each to the midcap managers, but will not decide how much to give the large-cap managers until it completes its search for a passive manager at its April 15 meeting. The system has one other passive manager, RhumbLine Advisers, but, ``We don't feel the need for two index managers,'' Mr. Cahill said.
