Indiana State Police Pension Trust, Indianapolis, hired three active domestic equity managers for its $300 million fund. Key Asset Management will run $18 million in large-cap value; Simms Capital Management, $18 million in large-cap growth; and Rice, Hall James, $15 million in small-cap growth and value.
The hirings are a result of asset-liability and asset allocation studies, which boosted the target for equities to 45% from 30%. Funding will come from the remaining assets in an internally run fixed-income portfolio.
Capital Cities assisted in the searches and studies.
