North Dakota State Investment Board, Bismarck, with approximately $3...

North Dakota State Investment Board, Bismarck, with approximately $3 billion in assets, hired Brinson Partners as a domestic small-cap value equity manager for the $710 million insurance trust fund. Brinson will manage $15 million for starters in a commingled post-ventures equity fund of newly public small-cap companies, said Steve Cochrane, investment director. The insurance trust fund already uses Nicholas-Applegate as a domestic small-cap growth stock manager, and wanted to add a domestic small-cap value manager, Mr. Cochrane said. Funding will come from cash.