New Hampshire Retirement System, Concord, hired Salomon Smith Barney-F.M.A. to run $25 million in its first collateralized bond obligation program, said Edward Theobald, chairman of the $4.5 billion system. The program will be funded from venture capital, which has $200 million in cash, Mr. Theobald said. The system also hired Bank of New York and Pension Evaluation Services to do commission recapture.
The system also plans to hire a new real estate manager to run $140 million in a general real estate program, to bring that asset class to its target allocation of 10% of assets. A decision on whether to hire one of the managers recommended by New Hampshire’s real estate consultant, The Townsend Group, will be made after Townsend makes a presentation at the April board meeting, Mr. Theobald said.
Miami Firefighters’ & Police Officers’ Retirement Trust will announce in late spring or early summer its decision in a search for an international equity manager to run $50 million to $60 million, said Robert Nagle, administrator. The $1.1 billion defined benefit plan is conducting the search on the recommendation of consultant Dorn Helliesen & Cottle and for diversification. The fund and consultant are no longer accepting inquiries.
