New York State Common Retirement Fund, Albany, gave an additional $200 million to Progress Investment Management, a manager of managers specializing in emerging minority- and women-owned investment managers, according to a news release from the $112 billion fund. Progress had handled $800 million for the fund prior to the additional allocation.
The new allocation was divided among eight existing active domestic equity managers: Hoover Investment Management, $45 million, small-cap value; EARNEST Partners, $40 million, small-cap value; Piedra Capital, $35 million, midcap growth; Schneider Capital Management, $22 million, midcap value; Nichols Asset Management, $20 million, tech-sector growth; RASARA Strategies, $20 million, midcap to small-cap regional banking sector equities; New Amsterdam Partners, $10 million, midcap core; and Fortaleza Asset Management, $8 million, small-cap growth.
