SEARCHES & HIRINGS
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 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. The money will come from cash and the overweighted portion of the $11.7 billion fund's domestic 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 manage 7.5% of the $1 billion fund. The new mandate will be funded from the U.S. equities allocation, said Philip Halpern, CIO.
No managers will be terminated. The search was conducted in-house.
Tufts University, Somerville, Mass., committed to three commingled emerging market funds for its investment pool. TCW Worldwide Opportunities Fund was awarded $10 million; Globalvest Value Fund, $5 million; and Trace Global Opportunities Fund, $5 million.
Money will come from cash and from The Common Fund's emerging markets commingled fund, which had contained about $13 million of the school's $430 million investment pool. The Common Fund was dropped in favor of the investment approaches of the new funds, said Darleen Karp, associate director of treasury operations. Evaluation Associates assisted.