Alaska Permanent Fund
JUNEAU, Alaska - The Alaska Permanent Fund Corp. hired Tukman Capital Management to run a $480 million active domestic large-cap value stock portfolio, replacing INVESCO Capital Management, according to a news release. Officials at the $24.3 billion pension fund were unavailable by press time to provide details.
Anniston City Police & Firemen
ANNISTON, Ala. - The $26 million Anniston City Police & Firemen's Retirement Fund hired Atlanta Capital to manage up to $2 million in active domestic small-cap value equity, said Alan B. Atkinson, secretary and treasurer. He said funding will come from a holding account with custodian SouthTrust. Dahab Associates advised.
GOTEBORG, Sweden - AP2 hired State Street Corp. to provide global custody, accounting and investment services for the e14 billion ($13.8 billion) system.
Bishop Street Capital
HONOLULU - Bishop Street Capital Management hired BNP Paribas Asset Management as subadviser on a new active domestic midcap to large-cap growth equity mutual fund. The fund is targeted to institutional and retail clients, said Robin Midkiff, Bishop president.
WASECA. Minn. - Brown Printing Co. is adding three investment options to its $78 million profit-sharing plan and four investment options to its $64 million 401(k) plan, said Paul D. Lohse, trustee and assistant controller.
The profit-sharing plan will add the Van Kampen Comstock, Lord Abbett Small-Cap Value and Dreyfus Small-Cap Stock Index funds. The 401(k) plan will add four Principal offerings: Small Company Growth Separate Account; Partners Large-Cap Value; Partners Small-Cap Value; and Small-Cap Stock Index. Also, the 401(k) plan will offer the Principal Partners Large-Cap Blended Account Fund, replacing the Principal Large-Company Blended Separate Account Fund, he said.
Colorado School of Mines
GOLDEN, Colo. - The Colorado School of Mines Foundation hired Granahan Investment to manage $10 million in active domestic small-cap growth equities for the $106 million endowment, said Linda Landrum, managing director. Funding came from reducing an active domestic large-cap growth equity portfolio managed by TCW by $7.5 million, to $24 million, and reducing an active domestic fixed income portfolio run by Western Asset by $2.5 million, to $19 million; the change was made for diversification, she said. The fund's asset allocation is 80% equity and 20% fixed income. Monticello advised.
District of Columbia
WASHINGTON - The District of Columbia's Office of Personnel hired Independent Fiduciary Services to study all Washington city employee retirement programs - the 401(a) plan, the 457 deferred compensation plan and the defined benefit pension plans, which have $2.1 billion in total assets.
ANDOVER, Mass. - Dynamics Research Corp. added six Fidelity Freedom Funds to its $90 million 401(k) plan, said Mary Grzesik, retirement plans manager. It now offers 15 investment options, because of the plan's growth, she said. Fidelity is bundled provider. Mercer Human Resources advised.
Fremont Investment Advisors
SAN FRANCISCO - Fremont Investment Advisors hired Jarislowsky Fraser to subadvise its $30 million Fremont International Growth Fund, replacing Capital Guardian Trust. Nancy Tengler, Fremont chief executive officer, did not return calls by press time regarding reasons for the change.
University of Kentucky
LEXINGTON, Ky. - The University of Kentucky hired Ennis Knupp as consultant for its $440 million endowment, replacing Cambridge Associates, which was asked to rebid, said Susan I. Krauss, assistant controller. Ennis Knupp will advise on finalists in the fund's search for a manager to run $130 million in active domestic fixed income, Ms. Krauss said.
Separately, the endowment retained National City Trust as custodian, said Ms. Krauss.
State law requires the endowment to conduct searches every few years, she said.
University College London
LONDON - The University College London Endowment Plan hired Dresdner RCM to manage the L72 million ($108 million) fund in a balanced mandate, said Mark Berry, director, financial accounting. Previous manager Cazenove Asset Management's contract had expired. "We are required to review providers every three to five years as best practice," Mr. Berry said.
Milwaukee City Employes
MILWAUKEE - The $3.9 billion Milwaukee City Employes' Retirement System hired Turner Investment Partners to run $220 million in active domestic large-cap growth equities, said Jennifer Shannon, chief investment officer. Funding will come from reducing the portfolios of still-undetermined core and value equity managers, she said. Mercer Investment Consulting assisted.
Separately, the system renewed its contract with AllianceBernstein, which manages $285 billion in active domestic large-cap deep value equities, she said.
JACKSON, Miss. - The Mississippi Public Employees' Retirement System hired three active domestic small-cap managers to run $150 million each, said Frank Ready, executive director. Dimensional Fund Advisors was hired for value; Delaware Investments for growth; and Wellington Management for core, a new strategy for the $14.5 billion system. Funding came from active domestic small-cap managers GEO Capital and Thomson Horstmann, which each managed $225 million in growth and value, respectively; the two firms were terminated for performance, Mr. Ready said. Neither Wilma Engel at GEO Capital nor Dick Horstmann at Thomson Horstmann returned calls by press time.
New York City Teachers
NEW YORK - The $11.7 billion New York City Teachers' Retirement System committed $240 million each to actively managed REIT funds run by Lend Lease Rosen, Morgan Stanley and AEW Capital Management, said Nicole Lise, spokeswoman. It also hired active domestic midcap equity managers Ariel Capital to run $175 million in value; Chicago Equity Partners, $175 million, core; and INVESCO, $50 million, growth. Additionally, the system committed $30 million to Blackstone Capital Partners IV, a buyout fund.
Funding for the allocations will come from reducing the system's passively managed Russell 3000 index funds; Barclays Global Investors runs $8.7 billion and Mellon Capital, $3 billion.
OKLAHOMA CITY - The $1.25 billion Oklahoma Firefighters' Pension and Retirement System hired Aronson + Partners and Brandywine Asset to manage $50 million each in active domestic large-cap value equities, said Robert E. Jones, executive director. Partial funding came from terminating a $72 million portfolio managed by Oppenheimer Capital in the same style. The source of funding for the remaining $28 million has not been determined, he said. Asset Consulting Group advised.
Jeff Sheran, managing director of marketing for Oppenheimer Capital, declined comment.
SALEM, Ore. - The $36 billion Oregon Public Employees' Retirement Fund committed $75 million to the Oaktree Opportunities IVB Fund, a distressed debt fund.
CLEVELAND - Parker-Hannifin Corp. added the Vanguard Institutional Index and the Washington Mutual Investors funds as investment options in its $1.5 billion 401(k) plan, said Josie Wilmore, manager, defined contribution plans.
The new options replace the State Street Global Advisors S&P 500 Index and Federated Equity Income funds, she said. The plan has 11 options.
WEST PALM BEACH, Fla. - Plumbers & Steamfitters, Local 630, hired Missouri Valley Partners to manage $14 million in active domestic small-cap core equities for the $80 million pension plan, said Owen L. Culpepper, business manager. Funding came from reducing two active domestic large-cap equity portfolios: one managed by Independence Investments, cut to $25 million, from $35 million; and the other run by Legg Mason, cut to $10 million, from $14 million, he said. Plan officials wanted to diversify, Mr. Culpepper said.
Investment Performance Services advised.
ATLANTA - Printpack Inc. added five investment options to its $175 million 401(k) plan, said R. Michael Hembree, vice president of finance. The new options, all Frank Russell funds, are: Fixed Income; Russell 1000 Index; Large-Cap Structured Equity; International; and Small Capitalization.
The plan now offers 10 options, he said. Frank Russell is bundled provider.
Les Schwab Tire Centers
PRINEVILLE, Ore. - Les Schwab Tire Centers Inc. hired INTECH to manage $15 million in active domestic large-cap growth equities for its $310 million profit-sharing trust, replacing Bank of America, said Steven Bjorvik, trust manager. Mary Waller, Bank of America spokeswoman, did not return calls seeking comment by press time.
Brockhouse & Cooper and R.V. Kuhns advised on the search.
S. Carolina Deferred Comp
COLUMBIA, S.C. - South Carolina Deferred Compensation Commission hired CitiStreet as record keeper and administrator for the state's $787 million deferred compensation program and $840 million 401(k) program. CitiStreet also will provide education and handle participant enrollment. CitiStreet replaces Great West Life as record keeper, and Seabury and Smith, which performed administration and provided participant education, said Michael Sponhour, spokesman for the state Budget and Control Board. Watson Wyatt assisted.
Texas Teacher Retirement
AUSTIN, Texas - The $80 billion Texas Teacher Retirement System hired Ennis Knupp as investment consultant, replacing Wellington Management. Wellington, which advised the fund for 22 years, is focusing on its funds management business. Other finalists were Wilshire and Callan.
Washington State University
PULLMAN, Wash. - Washington State University hired Quellos Capital Management to manage $9 million in a hedge fund of funds for its $185 million endowment, said Karen L. Kellerman, senior investment fund manager. Funding will come from reducing active domestic fixed-income portfolios managed by Western Asset and Reams Asset by $4.5 million each; portfolio sizes were not available. Cambridge Associates advised.
Wayne State Foundation
DETROIT - Wayne State University Foundation hired Ennis Knupp as consultant for its $150 million endowment plan, said David P. Harmon, assistant director of endowment management. Previous consultant Evaluation Associates was terminated because plan officials felt another firm would be better suited to oversee the new foundation, which includes the endowment plan, he said.
WICHITA, Kan. - Wichita Clinic is adding three investment options to its $55 million money purchase plan and $30 million 401(k) plan, said Lori W. Hilts, accountant. Both plans will add the Washington Mutual, Baron Growth and Berger Midcap Value funds, giving them 14 investment options; the plans offer the same options, she said. Fidelity is bundled provider; Milliman USA advised.