South Carolina Retirement System, Columbia, will hire its first small-cap to midcap domestic equity managers, pending on-site visits of four firms recommended by consultant Mercer. J.L. Kaplan Associates and Boston Co. Asset Management will run the value-oriented portfolio, and Suffolk Capital and M.F.S. Institutional Advisors will run the growth portfolio. Each firm initially will manage $50 million for the $19 billion pension fund.
Sandra Morelli, the funds consultant, said trustees are also in the initial stages of searches for a large-cap core U.S. equity manager; a large-cap value U.S. equity manager; and a small-cap to midcap core U.S. equity manager.