Tulare County Employees Retirement Association, Visalia, Calif., hired Sterling Capital to manage $40 million to $50 million in active non-large-cap value domestic equities, said David Kehler, retirement administrator for the $700 million plan. The funding source has yet to be determined, he said.
The plan also will receive a shortlist of active international equity managers from consultant Summit Strategies, Mr. Kehler said. Portfolio size and funding source are undetermined.
Both moves are being made in an effort to diversify the plans investments, Mr. Kehler said.