Memphis (Tenn.) Retirement System increased Chapman Capital Managements allocation to active domestic small-cap to midcap growth equities by $10 million to a total of $110 million, said Joseph Lee III, finance director of the $1.8 billion retirement system.
Funding comes from the termination of Southern Capital Advisors $10 million in active domestic midcap growth equity portfolio. Southern Capital was terminated for performance, said Mr. Lee.
Elkan Scheidt, portfolio manager Southern Capital, did not return calls by press time.
Wisconsin State Investment Board, Madison, is searching for a CIO of equities to replace Joe Gorman, who plans to retire, said spokeswoman Vicki Hearing. The $64 billion system retained executive search firm Korn/Ferry to help with the search, she said. Mr. Gorman had retired as a trustee in January 2000 and took the equities CIO job for what was to be a short time, Ms. Hearing said. No deadline for the hiring has been set. The system has about $35 billion in equities.