WOOD DALE, Ill. - AAR Corp. hired Penn Capital Management to run $1.1 million in active domestic small-cap value to core equities, a new allocation for the $97 million master retirement trust, according to Michael Sharp, vice president and comptroller. Funding came from cash.
ORLAND PARK, Ill. - Andrew Corp. added six investment options and a self-directed brokerage account to its $224 million 401(k) plan, said Jack Joyce, compensation and benefits manager. They new funds are the Dodge & Cox Stock; Artisan Mid-Cap; Morgan Stanley Institutional Small Company Growth; American Funds Growth Fund; American Century Small-Cap Value; and Vanguard Small-Cap Index. DCA advised.
SACRAMENTO, Calif. - The investment committee at the $151 billion California Public Employees' Retirement System approved hiring Goldman Sachs Asset Management and Franklin Templeton Institutional to run active domestic gross equity mandates.
CDC IXIS Asset
CORTE MADERA, Calif. - CellMark Inc. hired Putnam as bundled provider for its profit-sharing and 401(k) plans, with a combined $10.1 million in assets, said Ann Harris, human resources consultant at CellMark. The Hobbs Group assisted.
Chicago Municipal Employees
CHICAGO - The $5.8 billion Chicago Municipal Employees' Annuity & Benefit Fund is allocating $40 million to J.P. Morgan Fleming and $15 million each to American Realty Advisors and the AFL-CIO Building Investment Trust, all in core real estate, said Terry Stefansky, executive director. Becker Burke assisted.
NEW YORK - Commonfund hired three subadvisers for its new Core Bond Fund. Western Asset Management will manage 40% of the active domestic commingled fund, and BlackRock and Reams Asset Management will manage 30% each.
EUGENE, Ore. - Dynea USA Inc. added three investment options to its 401(k) plan, said Christine Reid, payroll and benefits administrator. The plan added the Columbia Growth Fund of America, Columbia Real Estate Equity and Galaxy Strategic Equity funds, she said. Arnerich Massena advised. The plan has $27 million in assets, according to the Money Market Directory.
ATLANTA - Georgia-Pacific Corp. hired Analytic Investors to manage $75 million in active domestic core equities for its $4 billion pension plan. John Stettler, vice president-benefit investments, said funding came from a termination; he declined to identify the manager or provide further information.
Hawaii Deferred Compensation
HONOLULU - The Hawaii Deferred Compensation Fund hired Mercer Investment Consulting as the first retainer investment consultant for the $1 billion 457 plan, said Sandi Yahiro, personnel management specialist.
Indiana State Teachers
INDIANAPOLIS - The $5.5 billion Indiana State Teachers' Retirement Fund hired Portfolio Advisors to manage its new $150 million private equity portfolio, said Robert D. Newland, deputy director of investments. Funding will come from reductions to an S&P 500 index fund managed by Barclays Global Investors
Jackson National Life
SAN FRANCISCO - Jackson National Life Insurance hired Mellon Financial as subadviser for five new indexed strategies that will be offered to variable annuity and other insurance customers.
Nebraska Public Power
COLUMBUS, Neb. - Nebraska Public Power District Employees' Retirement System added the Royce Low-Price Stock Fund as an investment option in its $320 million 401(k) plan, said William Podraza, senior manager human resources. Asset Consulting Group advised.
New Haven Police & Firemen
NEW HAVEN, Conn. - The $274 million New Haven Police & Firemen's Pension Fund will commit $5 million to Suoritus Partners, a hedge fund, said Gwendolyn Bell, pension administrator. Consultant Gray & Co. is conducting an asset allocation study to determine the source of funding.
North Central College
NAPERVILLE, Ill. - North Central College hired seven managers for its $50 million endowment fund, said Paul Loscheider, vice president for business affairs. They are: Vanguard and Sands Capital, which will run a total of $19 million in domestic large-cap equities, along with existing manager ICAP; Brown Capital and Morgan Stanley, $11 million total in domestic small-cap equities; American Fund, $5 million in international equities; Newgate, $2.5 million in emerging markets equities; and CMC, $5 million in high-yield fixed income, Mr. Loscheider said.
Northwestern Memorial Hospital
CHICAGO - Northwestern Memorial Hospital hired Cambridge Associates as alternatives consultant for the $1.3 billion commingled investment program, comprising the $206 million pension plan, $508 million hospital capital fund, $370 million foundation fund and $150 million self-insurance fund, said Thomas M. Satkus Jr., assistant treasurer.
Oak Park Police
OAK PARK, Ill. - Oak Park Police Pension Fund hired MetLife/Bank of Ireland to manage $3 million in active international equity, said Gregory J. Peters, director of finance and treasurer. The $55 million pension plan will fund the hire from cash and by reducing domestic government fixed-income portfolios run by Mesirow Asset and Bradford & Marzec. Plan officials want to diversify, he said. Disabato Associates advised.
University of the Pacific
STOCKTON, Calif. - University of the Pacific hired Santa Barbara Asset Management to run $7 million in active domestic large-cap growth equities for its $132 million endowment fund, said Larry G. Brehm, associate vice president for business and finance. Funding came from reducing a Vanguard S&P 500 index fund to $15 million, from $22 million. Canterbury Consulting advised.
WHITE PLAINS, N.Y. - Pentegra Group hired Arden Asset Management to manage $10 million in a hedge fund of funds for its $1.6 billion Financial Institutions Retirement Fund, said Horace J. Caulkins, chief investment officer.
Phoenix City Employees
PHOENIX - Phoenix City Employees' Retirement System hired Boston Co. to manage $60 million in active domestic midcap value equities and Columbus Circle to manage $60 million in active domestic small-cap growth equities, said Rey G. Servin, analyst programmer III. Becker Burke advised.
St. Augustine General Police
ST. AUGUSTINE, Fla. - The $15 million St. Augustine General Police Retirement Plan hired Sawgrass Asset Management to run $7.5 million in active domestic large-cap growth equities, said Jason Sheffield, spokesman. Principal Financial will continue to manage $7.5 million in active domestic fixed income.
Salomon Smith Barney
NEW YORK - Salomon Smith Barney hired State Street Research to offer SSR's small-cap growth equity portfolio through one of Salomon Smith Barney's managed account programs. The portfolio will be part of the SSB Fiduciary Services Program.
Salt River Project
PHOENIX - Salt River Project added the American Century Small-Cap Value, American Funds New Perspective and the PIMCO Total Return funds as investment options for its $328 million 401(k) plan, said Andy Wilson, assistant treasurer.
San Diego County Employees
SAN DIEGO - The $4 billion San Diego County Employees Retirement Association hired Rocaton Investment Advisors on a short-term basis for general consulting services, according to a statement by Jerry Woodham, chief investment officer.
Separately, the board committed $10 million to Cerberus Institutional Partners II.
Sara Lee U.K.
SLOUGH, England - Sara Lee U.K. Ltd. hired Mercer Human Resource Consulting as sole consultant to its L600 million ($864 million) pension plan, created from the recent merger of its five existing British staff pension schemes.
SPRING GROVE, Ill. - Scot Forge Co. hired RSM McGladery as bundled provider of its new 401(k) plan, said Jenny Herman, human resources benefits administrator. RSM will provide nine investment options.
University of South Florida
TAMPA, Fla. - The University of South Florida committed $14 million of the $242 million endowment to a REIT managed by Lend Lease Rosen, said John Scott, chief financial officer. Funding comes from Security Capital REIT, which was terminated because of internal changes resulting from the firm's acquisition by GE Capital Real Estate, Mr. Scott said. Wilshire Associates advised.
MAYNARD, Mass. - Stratus Technologies added four investment options to its $113 million 401(k) plan, said Donna Martin-Ellis, benefits specialist. The plan added the Fidelity Low-Price Stock, Oakmark Select, Strong Advisor Small-cap Value and Franklin Mutual Shares funds.
ZURICH - Swissair Group pension plans hired Wellington Management International to run e120 million ($109 million) each in separate active U.S. and European equity portfolios. The mandates are for the pension plans' pooled funds, set up earlier this year, said Felix Kottmann, investment adviser to the pension plans and chief executive officer of Kottmann Advisory.
The plans also hired Capital International to run e120 million in active Pacific equities; Bank of New York, e120 million in enhanced-index U.S. fixed income; and Dresdner Investment Management, e120 million in enhanced index European bonds, said Mr. Kottmann.
The Swissair Group pension plans comprised, as of Dec. 31, the 2.9 billion Swiss franc ($1.8 billion) VEF plan for flying staff; the 5.5 billion franc APK plan for ground staff; and the 670 million franc KV plan for senior management.
SIOUX CITY, Iowa - Terra Industries Inc. hired Salomon Smith Barney as trustee and sole investment manager of its $65 million U.S. pension plan, said Wynn Stevenson, vice president of taxes and corporate planning. The plan terminated Fidelity as active domestic large-cap value equity manager; Alliance Capital Management, active domestic large-cap growth equity; and Bradford & Marzec, active domestic fixed-income. The plan also terminated J.P. Morgan Chase as trustee.
NEWPORT BEACH, Calif. - Touchstone Investments hired Bank of Ireland Asset Management to subadvise its $26 million International Equity Fund and a variable annuity version of the strategy, said Patrick Bannigan, senior vice president.
COLLEGEVILLE, Pa. - Ursinus College hired Metropolitan West Asset to manage $27 million in active domestic fixed income for its $95 million endowment, replacing Commonfund, said James E. Cooper, controller. Hewitt Investment Group advised.
OLYMPIA, Wash. - Washington State Investment Board will add a passive small-cap option for its $1.5 billion 457 plan. Barclays Global Investors will manage the portfolio, which will track the Russell 2000.