Ohio Bureau of Workers' Compensation, Columbus, hired six emerging managers as part of its search for 25 to 30 emerging managers for its $19.5 billion insurance fund, said Robert G. Cowman, CIO.
The other emerging managers have been selected, but their hirings are pending the negotiation of contracts. In all, approximately $500 million will be allocated to the emerging managers or small young firms.
The six firms are all small-cap equity managers. They are: Daruma, with an assignment of $10 million; Cordillera, $10 million; Great Northern, $30 million; JMC, $25 million; Opus, $10 million; and ZPR, $10 million.
The searches were done in-house without the use of a consultant.
Derek Lau, former senior analyst for Intel Corp., has joined Geocapital's investment team as controller. Mr. Lau will be responsible for partnership financial reporting.
Judith Bolger, former associate for McKinsey & Co., will take on the position of senior associate. She was the co-founder and executive vice president of Scenario Inc., a designer and manufacturer for portable computers. Satya Patel, new associate for Geocapital, worked as consultant and module leader for Monitor Company.
All three positions are an expansion of Geocapital's investment team