Metropolitan Atlanta Rapid Transit Authority, in an effort to increase...

Metropolitan Atlanta Rapid Transit Authority, in an effort to increase its international equity exposure, hired international core equity manager Sit-Kim International to run a $15 million portfolio. Funding comes from existing large-cap domestic equity manager Paradigm. The $560 million defined benefit plan also terminated INVESCO as a large-cap domestic equity manager because of poor performance; its $51.3 million portfolio has been divided between existing large-cap managers Northern Trust, which received $26.3 million, and Ernest Partners, $25 million. Claudia Daniel, plan administrator, said these allocations were temporary and the fund may launch a search for a third large-cap domestic manager next year. Officials at INVESCO did not return calls by presstime. In September, the plan hired Ariel and Albriond to handle new domestic midcap value equity portfolios of $20 million each. Albriond was terminated in October, according to Ms. Daniel. Albriond’s portfolio was given to existing midcap manager Northern Trust. Callan Associates assisted with the international equity search. Gray & Co. and Ballantine assisted with the domestic equity searches.