Maryland-National Capital Park & Planning Commission Employees Retirement System, Riverdale, Md., is searching for an administrator to replace Ed Navarre, who retired at the end of August. The $465 million fund has not set a timetable for hiring a replacement.
Separately, the system hired Alliance Bernstein to run $40 million in active domestic large-cap value equities, said Mark Brubaker of Wilshire Associates, the plans consultant.
Funding came from reducing the allocations to fixed-income managers Goldman Sachs Asset Management and Western Asset, which ran $46 million and $93 million, respectively. Further details were not available by press time.