Deseret Mutual Benefit Administration, Salt Lake City, hired Trinity Investment Management, Englewood, Colo., for its $1.8 billion pension fund, said Kent A. Misener, managing director-investments.
Trinity will manage a large-cap value equity portfolio. Funding came from a reallocation. The amount assigned wasn't available.
Illinois Municipal Retirement Fund, Oak Brook, committed $45 million to Olympus Real Estate Fund II and Lazard Freres Strategic Real Estate Investors Fund II. Funding will come from cash and the overweighted portion in the $11.7 billion fund's U.S. equity index portfolio.
Institutional Property Consultants assisted.
California Institute of Technology, Pasadena, hired CapGuardian as an international equity manager, doubling its exposure in the asset class. The firm will run 7.5% of the $1 billion fund. Funding will come from the U.S. equities allocation, said Philip Halpern, CIO. No managers will be terminated.
Roofers Local 33, Boston, hired Dahab Associates as a consultant to review and monitor managers for its pension fund.
Dahab replaces The Hannah Group, which was terminated because of personnel changes after the firm's purchase by Advest. Trustees of the $22 million fund expect to meet with the new consultant next month.
Paul Bickford, trustee, said he did not expect any manager searches or an asset allocation study to take place.