Maryland State Retirement Systems, Baltimore, Feb. 22 hired Brinson...

Maryland State Retirement Systems, Baltimore, Feb. 22 hired Brinson Partners as its first venture capital manager to run $100 million; terminated three underperforming managers; accepted the resignation of an underperforming domestic fixed-income manager; and increased mandates to four current managers, said Richard Dixon, board chairman for the $28 billion fund. The funding source for Brinson is still undetermined. The board terminated Putnam Investments, global fixed income, $192 million; Mercantile-Safe Deposit & Trust, domestic fixed income, $39 million; and Alliance Capital, small-cap U.S. equity, $118 million, Mr. Dixon said. Investment Counselors of Maryland resigned as a $135 million domestic fixed-income manager. PIMCO, a domestic fixed-income manager, will receive an increase of $142 million. Rothschild Asset Management, a global fixed-income manager, will receive an increase of $192 million, funded from the terminated Putnam Investments mandate. The TCW Group and BT Alex. Brown, two small-cap U.S. equity managers running $83 million and $65 million, respectively, will each receive an increase of $59 million funded from the terminated Alliance mandate. Duff Ferguson, spokesman for Alliance Capital, and Laura McNamara, spokeswoman for Putnam Investments, declined to comment on the matter. Charles Loritz, senior vice president of employee benefits for Mercantile, and Charles Peterson, vice president of marketing for Investment Counselors, did not return phone calls by press time.