ALBANY, N.Y. - The $120 billion New York State Common Retirement Fund hired Chicago Equity Partners to run $250 million in active domestic large-cap core equities, according to state Comptroller H. Carl McCall, sole trustee for the fund.
The fund also boosted by $100 million its allocation to Progress Investment Management, a manager of managers that seeks out emerging, minority- and women-owned and niche money management firms. Progress now manages about $800 million for the system, said Jeffrey Gordon, fund spokesman.
The system allocated $80 million to three new emerging markets managers. EARNEST Partners got $40 million for an active small-cap emerging markets account; Nichols Asset Management received $20 million for an active account focusing on technology; and RASARA Strategies got $20 million for a small-cap and midcap regional banking account, he said.
Funding for the allocations came from cash.