Montgomery County Employees’ Retirement System, Rockville, Md., selected two firms as finalists to manage up to $60 million total in a private equity fund-of-funds portfolio, said Patrick Bell, director of pension investments at the Montgomery County Board of Investments He would not identify the firms. Officials at the $1.7 billion system will decide whether to hire one or both finalists at its June board meeting, he said. The search resulted from a new 5% allocation to alternative investments, Mr. Bell said. Funding will come from reducing one of the system’s Barclays Global Investors index funds; which one will be determined later. The change was made as an enhancement to the system’s domestic equity program, he said.
Also at the June board meeting, the investments board will decide whether to add a stable value option to the county’s $200 million 457 plan. Wilshire Associates is assisting.
