GE Asset Management took in $5 billion in new institutional assets this year, including 34 new clients and 46 additional allocations from existing clients, said Jack Boyce, senior vice president, institutional investment services.
New clients included the $5.8 billion Delphi Automotive Systems defined benefit plan, Troy, Mich., which invested $1.1 billion in enhanced index and other quantitative strategies; and the $5 billion American Airlines Inc. pension fund, Fort Worth, Texas, which invested $283 million in the U.S. Research Enhanced Strategy. Other new business came from the $16 billion DaimlerChrysler Corp. defined benefit plan, Auburn Hills, Mich., which invested $100 million in private equity and EAFE strategies; the $1.9 billion Constellation Energy Group, Baltimore, $66 billion in the U.S. multistrategy fund; and New York City's $5 billion Fire Department and $1.5 billion Board of Education pension funds, $30 million and $11 million, respectively, in an EAFE strategy.
