Public Employees Retirement System of Nevada, Carson City, selected Alliance Capital Management to run a new large-cap value index portfolio. ACM was chosen over Axe-Houghton and Barclays Global Investors. The $150 million portfolio is to be funded from cash in the next week to 10 days, 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 mandate. Funding for the real estate portfolio will come from cash, Ms. Wallace said. The board is expected to select the real estate manager in August, she added.