Oklahoma Gas & Electric Co., Oklahoma City, hired three new managers in a reorganization of its $260 million defined benefit fund. Hired were: Chicago Trust for a $50 million active U.S. bond mandate; American Advantage Fund, an international equity, for 10% of the total portfolio and Shapiro to run 10% of the fund in a small-cap value portfolio.
Fund officials decided to keep Ryan Labs as a passive bond manager to run $50 million. Ryan Labs had been awarded on a temporary basis the entire $100 million bond portfolio. Marquette assisted.
Teachers' Retirement System of Illinois, Springfield, hired Hughes Capital Management to run $50 million in a domestic fixed-income portfolio, said John Day, interim executive director for the $18 billion fund. The search was done in-house.
Capital Health System at Mercer, Trenton, N.J., hired Putnam Investments to manage a $5 million domestic core growth equity portfolio for its defined benefit plan. Funding will come from the $25 million plan's investment income, said Cynthia Bove, director of human resources.
Yanni Bilkey assisted.
Delaware County Retirement System, Media, Pa., hired McHugh Associates to manage a midcap to large-cap U.S. equity portfolio, said Richard Daisley, controller.
The $232 million fund will fund the $10 million portfolio from existing managers; none will be terminated. Spagnola & Cosack assisted.
Multicare Health System, Tacoma, Wash., hired Boston Partners to run $45 million in U.S. large-cap value equity for its $200 million operating fund. Arnerich, Massena & Stewart assisted.