Ohio Public Employees Retirement System, Columbus, hired international managers AllianceBernstein to run $500 million in a core blended portfolio and Walter Scott & Partners to manage $280 million in active large-cap growth equities, said Farouki Majeed, deputy director of investments for the $47 billion fund.
Partial funding for the core portfolio came from terminating J.P. Morgan Fleming, which ran $269 million in an active EAFE fund, Mr. Majeed said. The move was part of a transition toward a more growth-oriented mandate, J.P. Morgan Fleming spokeswoman Carolyn Jones said. J.P. Morgan Fleming continues to manage $230 million in active international large-cap growth equities for the fund. The remainder of AllianceBernstein's funding came from reducing portfolios run by Baring Asset Management and Marvin & Palmer; the sizes of those portfolios were not available by press time.
Funding for the large-cap hiring came from the April termination of Nicholas-Applegate, which ran $300 million in active international large-cap growth equities and $21 million in active international small-cap growth equities, Mr. Majeed said.
Ennis Knupp assisted.