Public Employees Retirement System of Nevada, Carson City, selected Alliance Capital Management to run a new large-cap value index portfolio of undetermined size. Alliance was chosen over Axe-Houghton and Barclays Global Investors. The portfolio, of undetermined amount, is to be funded from cash, said Laura Wallace, chief investment officer for the $13.2 billion fund.
Also, Clarion, J.P. Morgan and SSR are finalists in the funds search for a manager to handle a $200 million real estate portfolio. The money will come from cash, Ms. Wallace said. The board is expected to select the real estate manager in August.