Indiana Public Employees' Retirement Fund, which last month hired index and enhanced index domestic equity managers, will search next for active midcap U.S. equity managers, said H. Garth Dickey, director of the $8 billion Indianapolis-based fund. The fund is in the process of shifting to a 60% allocation to equities. The hirings will be the first step in Indiana's search for $2 billion worth of active U.S. equity managers.
The fund will hire managers in midcap growth and value investment styles. The exact timetable has not been determined. Burnley Associates and Mercer are assisting.