SEARCHES & HIRINGS
Indiana Public Employees' Retirement Fund, Indianapolis, picked four managers to run a total of $2 billion in indexed and enhanced indexed U.S. stocks, said Garth Dickey, executive director of the $8 billion fund.
Barclays Global Investors was selected for a $700 million passive large-cap equity mandate. The other finalist was Northern Trust Quantitative. Brinson and J.P. Morgan each will run $350 million in enhanced large-cap equities. The other finalists were BGI and Goldman Sachs. In enhanced small cap, Dimensional Fund Advisors will run $400 million; J.P. Morgan, $200 million. The other finalist was Northern Trust.
Next up will be a series of searches for about $2 billion worth of active equity managers for a number of investment niches. Burnley Associates and Mercer are assisting.
Alaska Permanent Fund Corp., Juneau, hired Putnam Investments as a growth equity manager. The $24.4 billion fund also considered Alliance Capital and Goldman Sachs. Putnam will be assigned $500 million, replacing Chancellor LGT.
Knoxville (Tenn.) Employees Pension plan named State Street Bank as custodian, replacing SunTrust. SunTrust and Mellon Bank were finalists in the $700 million fund's search.
Rhode Island State Investment Commission, Providence, committed $15 million each to three alternative investment funds and rescinded an earlier vote to commit $10 million to Apollo Real Estate Investment Fund III.
The commission decided not to invest in the opportunistic fund because of demands on the time of William Mack, manager of the Apollo fund, said Steve Klamkin, spokesman for the $5.8 billion pension fund. The fund will invest in: Apollo Investment Fund IV, a debt fund; Aurora Equity Partners II, a buyout fund; and First Reserve Fund VIII, a venture capital fund. Funding will come from investment income. Pacific Corporate Group assisted.