Golden L.E.A.F. Foundation, Rocky Mount, N.C., hired 13 managers to run $160.4 million in assets the state received as part of a settlement from tobacco companies.
Hired to run domestic equity portfolios were: Cohen, Klingenstein & Marks, which will manage $19.2 million in large-cap growth; Armstrong Shaw Associates, $20.8 million in large-cap value; Ariel Capital, $6.4 million in midcap value; Wasatch Advisors, $5.4 million in small cap growth; Rice Hall and James, $1 million in small-cap growth; and Sterling Capital Management, $9.6 million in small-cap value, said Joseph Gray Jr., vice president of finance and operations.
The foundation, which was created to handle the settlement money, also hired Capital Guardian to run $8 million in international equities; Tattersall Advisory Group, $40 million in domestic fixed income; UBS Asset Management, $11.2 million in a closed-end real estate fund; Credit Suisse First Boston, $10 million in private equity; and the Carlyle Group, $9.6 million in private equity.
In addition, it hired two hedge fund managers: Arden Asset Management will run $12.8 million, and Archstone Partners, $6.4 million, Mr. Gray said.
Deutsche Banc Alex. Brown assisted.