South Carolina Retirement System, Columbia, is beginning a search for a domestic large-cap growth manager to run $400 million, said Sandra Morelli, principal at William M. Mercer, consultant to the $18 billion pension fund.
The fund also selected managers for three domestic equity mandates, subject to contract negotiations, site visits and approval by the state’s Budget & Control Board, which will vote on the selections in late January, Ms. Morelli said.
Fidelity will run $22.5 million and Farrell-SL will run $67.5 million in small-cap to midcap core; J.P. Morgan and Wellington each will run $150 million in large-cap core; and Sanford C. Bernstein will run $192 million; Flippin Bruce & Porter, $96 million and Institutional Capital, $192 million in large-cap value. Funding for all of the hires will come from cash and reducing existing domestic fixed-income portfolios.
