AUSTIN, Texas -- American Skandia Inc. hired The 401(k) Co. as record keeper for its $35.5 million 401(k) plan, said David Ort, employee services manager. The 401(k) Co. replaced Trustar, which left the defined contribution plan record-keeping business. Watson Wyatt Worldwide assisted.
The company also changed two of the 21 investment options offered by the plan, Mr. Ort said. It added the Goldman Sachs International Growth fund, replacing the JanCap Growth fund, and added William Blair International Growth, replacing Janus Overseas Growth, he said.
WACO, Texas -- The $550 million Baylor University endowment committed $5 million to the CNL Hospitality Properties Fund, said Jonathan Hook, chief investment officer. Funding will come from reducing fixed-income portfolios. Lawrey Asset advised.
ANN ARBOR, Mich. -- Borders Group Inc. added the Van Kampen Growth & Income Fund as an investment option in its $69 million 401(k) plan, said Susan J. Mann, director-benefits. The plan dropped the MFS Capital Opportunities Fund.
WASECA, Minn. -- Brown Printing Co. added three investment options to its $70 million profit-sharing/401(k) plan, said Paul D. Lohse, assistant controller and trustee. They are: the Van Kampen Comstock Fund A; Lord Abbett Small-Cap Value Fund A; and Dreyfus Small-Cap Stock Index Fund. Jeffrey Slocum & Associates advised.
California State Teachers
SACRAMENTO, Calif. -- CalSTRS staff committed up to $100 million to The Resolute Fund, a buyout fund specializing in middle-market companies. Staff of the $91 billion California State Teachers' Retirement System also committed $26 million to Fondinvest VI, a private equity secondary fund of funds, and $25 million to a co-investment in the $375 million buyout of Nortek Inc. alongside manager Kelso Investment Associates. CalSTRS also has an indirect investment of $23.4 million through Kelso Investment Associates VI.
MINNEAPOLIS -- Cement Masons Local 633 hired White Pine Capital to manage $6 million in active domestic large-cap growth equities for the $97 million pension plan, said Larry T. Vee, business manager. Funding came from U.S. Bancorp. Standard Valuations advised.
Colorado Public Employees
DENVER -- The $24 billion Colorado Public Employees' Retirement Association will commit $40 million to Liberty Ventures 1, confirmed Katie Kaufmanis, director of communications.
University of Dayton
DAYTON, Ohio -- The University of Dayton hired DeMarche Associates as consultant for its $375 million endowment, said Delanie Moler, investment officer. The plan has not retained a consultant for several years, she said. DeMarche is beginning a comprehensive review of the fund, which likely will lead to changes in the plan's asset allocation model in the second quarter. The asset allocation is 75% equity, 20% fixed income and 5% alternatives.
Delaware Public Employees
DOVER, Del. -- The $4.9 billion Delaware Public Employees' Retirement System hired Mount Lucas Management to run $100 million in the MLM Index Fund, said Ralph Adkins, board chairman. Funding came from cash. Ashford Capital assisted.
EMI Recorded Music
HOLLYWOOD, Calif. -- EMI Recorded Music North America made several changes to the investment options in its 401(k) plan, said Pam Cless, supervisor-benefits administration.
It added the T. Rowe Price Personal Strategy Growth, Personal Strategy Balance and Personal Strategy Income funds; PIMCO Total Return Fund; and INVESCO Shares Fund, Investor Class. The plan dropped the T. Rowe Price Spectrum and Science and Technology funds, leaving it with 14 investment options, she said.
The plan has $133 million in assets, according to the Money Market Directory.
BRONX, N.Y -- Fordham University hired Rice, Hall & James to manage $16 million in active domestic midcap growth equities for its $208 million endowment plan, said Conrad J. Obregon, director of treasury operations. Funding came from reducing the active domestic large-cap equity portfolios of John W. Bristol, which now runs $50 million in growth, and Gabelli Asset and J&W Seligman, which now manage $22 million each in value, Mr. Obregon said. Most of the money came from the large-cap value portfolios, but he would not provide further details. Plan officials made the changes to reduce risk, he said. Mercer Investment Consulting advised.
Golden Gate Transit
SAN RAFAEL, Calif. -- Golden Gate Transit-Amalgamated Retirement Plan hired Dodge & Cox to manage $35 million in active domestic fixed income and $33 million in active domestic large-cap value equities; it also committed $5 million to the Capital Research Euro Pacific Growth Fund, pending negotiations, said Robin Davis, administrator. Dresdner RCM, which was the sole manager for the $95 million plan, will continue to run the remaining $22 million, with most of the money in active domestic growth equities and a small portion in small-cap to midcap, he said.
Joe Kearns, an independent consultant, advised.
WATSONVILLE, Calif. -- Granite Construction Inc. made several changes to the investment options in its $90 million 401(k)/profit-sharing plan, said R.C. Allbritton, vice president and treasurer. Plan officials added the Fremont U.S. Micro-Cap Fund and the Lord Abbett Midcap Value Fund, and eliminated the Putnam New Opportunities Fund. P. Chan & Co. advised.
Hartford Municipal Employees
HARTFORD, Conn. -- The $950 million Hartford Municipal Employees' Retirement Fund hired FTI Institutional and Arnhold & S. Bleichroeder to handle $25 million each in active international equities, said Kathleen Palm, city treasurer. FTI will run a value portfolio, and Arnhold & S. Bleichroeder, growth. Funding came from a rebalancing and redeploying of assets; no managers were terminated.
Indiana State Police
INDIANAPOLIS -- Indiana State Police Pension Trust hired M.A. Weatherbie to manage $8 million in active domestic small-cap growth equity for the $275 million pension plan, replacing BlackRock, said Michael Frick, deputy treasurer. BlackRock was terminated for performance; Raymond Ahn, BlackRock spokesman, declined comment. Capital Cities advised.
King County Deferred Comp
SEATTLE -- King County Deferred Compensation Program added the Oakmark International Fund and the American Advantage Fund as investment options in its $197 million 457 plan, said Moneca Allen, plan coordinator. Arnerich, Massena advised.
BOSTON -- The Massachusetts Pension Reserves Investment Management Board, Boston, committed $50 million each to a TCW Investment Management distressed debt portfolio and the Nordic Capital V private equity fund. The $26 billion pension fund has 5.9% of total assets in alternatives, with an interim target allocation of 6% and a long-term allocation of 10%.
SANTA FE, N.M. -- New Mexico State Investment Council committed a total of $65 million to three private equity funds, said Greg Kulka, alternative investments portfolio manager for the $10.5 billion council. They are: $25 million to Avenue Special Situations Fund III; and $20 million each to Charterhouse Capital Partners VII, a European large company buyout fund, and Nordic Capital Fund V, a Nordic-area middle-market buyout fund. Pacific Corporate Group, the council's private equity investment adviser, assisted.
Funding will come from the council's internally managed $3 billion domestic core bond fund.
New York City Deferred Comp
NEW YORK -- New York City Deferred Compensation Plan hired Bank of New York as its first master custodian, said Dean Weltman, counsel for the $4 billion plan. Separately, it hired Lord Abbett and Dresdner RCM Global to manage a combined $14 million blended midcap equity option previously run by INVESCO, Mr. Weltman said. The money probably will be split evenly between the two managers, he said.
New York City Retirement
NEW YORK -- Four New York City Retirement Funds collectively committed a total of $50 million to Canyon-Johnson Urban Fund, said Nicole Lise, spokeswoman for the funds. The $32.2 billion New York City Employees' Retirement System and the $22.4 billion Teachers' Retirement System of the City of New York committed $15 million each; and the $14 billion New York City Police Department Pension Fund and $5 billion New York City Fire Department Pension Fund committed $10 million each. Funding will come from U.S. fixed income, Ms. Lise said.
OKLAHOMA CITY -- The $1 billion Oklahoma Police Pension & Retirement System hired State Street Global Advisors to manage $90 million in an enhanced S&P 500 index fund, said Robert J. Wallace, executive director. Funding will come from a $90 million active large-cap domestic growth equity portfolio managed by Montag & Caldwell, which is being terminated because of a change in investment strategy, he said. Asset Consulting Group advised.
University of the Pacific
STOCKTON, Calif. -- University of the Pacific hired Frontier Capital Management to run $6 million in active domestic small-cap to midcap growth equities, replacing Roxbury Capital, said Larry G. Brehm, associate vice president for business and finance. Canterbury Consulting advised the $110 million endowment.
PLANO, Texas -- J.C. Penney Co. Inc. hired Strong Capital to manage active domestic midcap growth equities for the $2.5 billion pension plan, confirmed Stephanie Brown, spokeswoman. The size of the portfolio will be $75 million, confirmed Drew Wineland, spokesman for Strong. Frank Russell advised.
Plumbers and Steamfitters, 267
SYRACUSE, N.Y. -- Plumbers and Steamfitters Local 267 hired INVESCO as record keeper and administrator for its $40 million trust fund, said Terry J. Musto, fund manager. Both duties had been handled internally, Mr. Musto said.
St. Clair Shores Employees
ST. CLAIR SHORES, Mich. -- The $34 million St. Clair Shores General Employees' Retirement System hired NWQ to manage $4 million in active domestic large-cap value equities, said Mary Kotowski, city clerk. Funding came from reducing Loomis Sayles' $8 million active domestic large-cap value equity portfolio to $4 million. Plan officials wanted to maximize returns and diversify, she said. Morgan Stanley advised.
San Bernardino Catholic
SAN BERNARDINO, Calif. -- The San Bernardino Catholic Diocese's lay employee pension fund invested $4 million in an institutional mutual fund run by Systematic Financial Management, said Mary Rose Wallace, diocesan CFO. The $20 million fund duplicates the investment style of Systematic's active domestic large-cap value separate account approach with a lower minimum investment. Wurts & Associates assisted.
TAMARAC, Fla. -- The City of Tamarac hired Hutchens Investment, an active domestic large-cap value equity manager, to run $5 million for the $20 million Firefighters' Pension Trust Fund and $4 million for the $19 million General Employees' Pension Trust Fund, according to a city official who declined to be identified.
Greg McNeillie, senior vice president at consultant Dahab Associates, which advised on the hiring, said funding came from terminating INVESCO, which ran $5 million for the firefighters' plan and $4 million for the employees' fund, both in the same style.
The two plans have separate boards and do not mirror each other, Mr. McNeillie said.
TAUNTON, Mass. -- The $110 million Taunton Contributory Retirement System hired Daruma Asset to manage $4 million to $6 million in active domestic small-cap core equities, said Paul J. Slivinski, executive director. Funding came from terminating Columbia Asset, which ran $6 million in small-cap equities, Mr. Slivinski said. Segal Advisors assisted.
Teamsters Local 272
NEW YORK -- Teamsters Local 272 Labor & Management Pension Fund invested $30 million in a Lehman Aggregate bond fund run by Northern Trust, said Marc Goodman, fund manager. Funding came from terminating Wellington Trust, which had run $30 million in its Core Bond Plus pooled active domestic core fixed-income fund for the $125 million pension plan. New England Pension Consultants advised.
Teamsters Pension Trust Fund
PHILADELPHIA -- Teamsters Pension Trust Fund, Philadelphia and Vicinity, committed $60 million to General Motors Asset Management's new core-plus real estate fund, the $1.1 billion plan's first real estate allocation, said Bill Einhorn, administrator. Funding will come from reducing other mandates, but it hasn't been determined what will be pared, Mr. Einhorn said. Courtney Investment Consultants assisted.
Turner Investment Partners
BERWYN, Pa. -- Turner Investment Partners hired PFPC as custodian for about $2.5 billion in the 23 Turner mutual funds, the Alpha Select Trust (which Turner subadvises for Concentrated Capital Management), and the Westlake Institutional Portfolios, a new group of institutional fixed-income mutual funds. PFPC also will provide fund accounting, administration and transfer agency services for the Westlake portfolios. First Union was the firm's previous custodian, said John Grady, a spokesman.
Virginia Retirement System
RICHMOND, Va. -- The $32.5 billion Virginia Retirement System committed $35 million to Angelo Gordon Capital Recovery Partners III, $75 million to Charterhouse Capital Partners VII, and $40 million to European Acquisition Capital Fund III, according to Nancy Everett, CIO. Funding will come from cash.
OLYMPIA, Wash. -- The Washington State Investment Board picked Walden Asset to run a $27 million socially responsible balanced investment option for the state's $1.3 billion 457 deferred compensation plan, replacing Calvert Asset, said Scott Huntley, legislative and communication coordinator.
Separately, the board, on behalf of the state's $35 billion commingled trust fund, committed e100 million ($100 million) to Nordic Capital V, a Scandinavian private equity fund. It also committed $75 million to Evercore Capital II, a domestic private equity fund.
Waterford Chartered Township
WATERFORD, Mich. -- Waterford Chartered Township committed $2 million to the Intercontinental Real Estate Investment Fund III for its $38 million Police & Fire Pension Plan, said Dee Minton, treasurer. Funding will come from cash. Portfolio Analytics advised.
LAKE FOREST, Calif. -- Western Digital Corp. added the Wasatch Ultra Growth Fund as an investment option in its $115 million 401(k)/profit-sharing plan, said Charlie Johnson, compensation manager. It dropped the Credit Suisse Small Company Growth Fund, Mr. Johnson said. Watson Wyatt advised.