Emerald will receive $30 million for a small-cap growth equity portfolio, pending completion of contract terms. Mr. Bechtel said funding could come from cash flow or a rebalancing among managers. Dahab Associates assisted.
Peter Marks will become CIO of the $1 billion New York State Nurses Association Pension Plan and Benefits Fund, Albany.
Mr. Marks will leave his current post as director-corporate finance for the Philadelphia-based Crown Cork & Seal's $3.5 billion pension plan June 4. Crown has initiated a search for his replacement.
A spokesman for the association declined to comment about staff changes at the fund.