Alameda County Employees
OAKLAND, Calif. -- The Alameda County Employees' Retirement Association hired TCW to run $50 million to $60 million in a concentrated large-capitalization equity growth strategy, said Linda Brewton, investment officer at the $3.4 billion fund. The hiring is the first for the fund's new alpha program, which is being funded from its index fund.
LOS ANGELES -- Baker Commodities hired PaineWebber as consultant for its $84 million defined benefit plan, said Mitch Ebright, vice president of corporate communications.
The change resulted from a recent personnel change at prior consultant Bear Stearns, he said.
Baltimore County Employees
BALTIMORE -- The Baltimore County Employees Retirement System committed $10 million to HarbourVest Partners Fund VI, said Robert Burros, investment administrator.
The $1.8 billion system previously committed $30 million to HarbourVest Partners V. The system has a private equity allocation of up to 3%. So far, it has committed 1.8%; and 0.7% has been invested, Mr. Burros said. Funding is from maturing real estate investments.
Centre College of Kentucky
DANVILLE, Ky. -- Centre College of Kentucky hired Brinson Partners as a large-cap value U.S. equity manager to run $12 million to diversify its $146 million endowment, said Richard Bauer, vice president of business and treasurer.
Funding for the allocation will come from reducing a $17 million small-cap growth U.S. equity portfolio managed by Commonfund.
Asset Performance Partners assisted. Wachovia did not rebid, Ms. Minton said.
Interstate/Johnson Lane assisted.
Cincinnati Bar Association
CINCINNATI -- The Cincinnati Bar Association hired Fifth Third Bank to provide bundled services for its 401(k) plan, which was recently converted from a money purchase plan, said Terrie Minniti, director of accounting and business manager for the association.
Ms. Minniti declined to discuss the size of the plan, but did say most of the group's 26 employees are participating.
The 401(k) plan retains some features from the money purchase plan, including the board's determining its matching contribution annually, she said. The average contribution has been more than 5%, she added.
The 401(k) plan has six Fifth Third investment options: international equity, balanced, quality bond, equity income, Pinnacle and U.S. Treasury obligation funds.
ATLANTA -- Coca-Cola Enterprises Inc. hired Putnam Investments to provide full-service record keeping for its $1.8 billion in domestic defined contribution plans, said Belinda Brady, senior manager for the pension fund.
She declined to give any additional information about what other changes were being made to the plans.
Putnam will manage about $250 million of Coca-Cola Enterprises' defined contribution assets, but the company has not yet chosen the mutual funds, a Putnam spokeswoman said.
According to documents filed with the SEC March 25, Coca-Cola Enterprises has defined contribution plans for all U.S. and Canadian employees. The company matches 50% of participant voluntary contributions up to a maximum of 7% of the participant's compensation. The company's contributions to these plans were $27 million in 1998, up from $22 million in 1997 and $19 million in 1996.
Coca-Cola Enterprises also has defined benefit plans for its North American and European employees valued at $1.014 billion at year-end 1998, down from $1.03 billion in 1997, the SEC filing states.
DOUGLAS, Ga. -- Coffee Regional Medical Center Inc. hired Fidelity Investments for its new 401(k) plan, said Don Lewis, vice president and chief financial officer.
Coffee Regional also has a $10 million defined benefit plan, which has been frozen while executives at the non-profit acute care facility consider whether to liquidate it. If so, participants would be able to roll over the money into the 401(k) plan, Mr. Lewis said.
About 60% of Coffee Regional's 500 eligible employees are participating in the 401(k) plan, Mr. Lewis said.
The 401(k) plan has 11 investment options, including five lifestyle portfolios called Fidelity's Freedom funds, he said. The employer match is on a sliding scale, depending on the employee's contribution, with a maximum match of 5% for a 5% employee contribution, he said.
Fort Lauderdale General
FORT LAUDERDALE, Fla. -- The $267 million Fort Lauderdale General Employees' Retirement System hired Rorer Asset Management and Scudder Kemper Investments, each to manage $25 million in U.S. large-cap value equity.
The funding will come from the terminations of three firms: State Street Global, which managed $20 million in a Russell 1000 value equity index fund; Vanguard, $10 million, S&P 500 index; and Loomis Sayles, $19 million, large-cap value active equities.
The passive managers were terminated in favor of active managers, said Richard Dahab of Dahab Associates, the fund's consultant. Loomis was terminated for performance reasons, he added.
A spokesman for Loomis Sayles did not return phone calls.
Indiana State Teachers
INDIANAPOLIS -- The State Teachers' Retirement Fund of Indiana recently hired four midcap U.S. equity manager, according to Bob Newland, chief investment officer for the $4.7 billion fund.
They were: Conseco, for a $20 million midcap growth mandate; Putnam, $35 million, midcap growth; Valenzuela, $35 million, midcap value; and Franklin Portfolios, $35 million, core midcap equity.
Funding comes from a $960 million Barclay's S&P 500 index portfolio. The hirings are the result of a recent asset allocation study.
LEBANON, Pa. -- The $70 million Lebanon County pension plan hired Cohen, Klingenstein & Marks as its first large-cap growth U.S. equity manager, said Bob Mettley, county controller.
Cohen will manage $21 million; the balanced portfolio run by C.S. McKee, previously sole manager, was reduced to fund the new hired.
MFA Oil Co.
COLUMBIA, Mo. -- MFA Oil Co. hired Boone County National Bank to replace Bankers Trust as custodian for its $120 million in pension assets, said Homer James, administrator.
Mr. James said the change resulted from Bankers Trust phasing out its smaller clients.
The search was conducted in-house.
New Hampshire Retirement
CONCORD, N.H. -- The $4 billion New Hampshire Retirement System committed $20 million to Prism Venture II Fund and $15 million to New England Partners III, said Dick Joyal, finance manager.
The system already is a limited partner in Prism Venture I and New England Growth I and II. The funding for the new commitments will come from cash reserves.
Oklahoma School Land Trust
OKLAHOMA CITY -- Oklahoma School Land Trust hired Seneca Capital Management to replace George D. Bjurman as a midcap growth U.S. equity manager for its $990 million trust fund, said Herb Johnson, director of investments. Performance was the reason for the change, he said.
Seneca will run $25 million funded from the $20 million terminated Bjurman mandate and $5 million from rebalancing, Mr. Johnson said.
Andrew Bjurman, president and CEO for Bjurman, did not return phone calls by press time.
Holbein Associates assisted.
OKLAHOMA CITY -- The Teachers' Retirement System of Oklahoma hired PIMCO and Loomis, Sayles to manage $250 million each in enhanced bond portfolios.
The funding will come from a domestic bond portfolio managed by Mellon Bond, which was temporarily holding the assets. Mellon will continue to manage about $500 million.
Funding also might come from other managers, none of which will be terminated, said Bill Puckett, investment officer for the $5.4 billion fund.
Pennsylvania State Employes
HARRISBURG, Pa. -- Board members of the $24 billion Pennsylvania State Employes' Retirement System approved commitments of up to $70 million in private equity, said Geoffrey S. Yuda, spokesman for the fund.
The board voted to allocate up to $20 million to Triangle Capital for seed-stage venture capital investments and up to $50 million to Oak Hill Capital Partners for private equity investments in such industries as media, telecommunications, financial services, consumer products and health care.
Funding will come from cash.
Cambridge Associates assisted.
AUSTIN, Texas -- The $28 million Texas Firefighters' Pension Commission hired Rice, Hall, James & Associates as its first core small-cap U.S. equity manager to run $4 million and Sanford C. Bernstein as a $6 million large-cap value U.S. equity manager.
Funding for both allocations will come from an $11.4 million large-cap value portfolio managed by NWQ, which was terminated for performance reasons, said Morris Sandefer, pension commissioner.
Karen McCue, NWQ director of institutional clients, said, "We've had a good, long-standing relationship with them. However, last year was a bad style year for large-cap value; but this year it's starting to rise again."
The remaining $1.4 million will be allocated to Brandes Investment Partners, an existing active EAFE manager.
Texas Permanent School Fund
AUSTIN, Texas -- The Texas Permanent School Fund hired State Street as custodian, replacing Citibank. Citibank will continue to handle the $17.9 billion fund's securities lending program.
Citibank, Mellon and Northern Trust were finalists in the search, said Robert Offutt, trustee and chairman of the finance committee. He added Northern was recommended by fund staff, but questions into whether the Chicago-based firm would need to pay state corporate income taxes might have influenced the trustees' decision.
Township of Waterford
WATERFORD, Mich. -- The Chartered Township of Waterford hired Neuberger Berman to run $17 million and Comerica Bank to replace Wachovia as custodian for its $45 million Fire & Police Pension System, said Dee Minton, treasurer.
Neuberger Berman is the fund's first domestic fixed-income manager, hired for diversification.
Funding came from reducing two domestic equity portfolios managed by Capstone Asset Management and Bartlett & Co.