Michigan Municipal Employees' Retirement System, Lansing, is making site visits this week to four semifinalists in its search for an active international small-cap equity manager to run $94 million. The finalists are: Acadian Asset Management; Dimensional Fund Advisors; Wellington Management and GlobeFlex, said Jeb Burns, CIO of the $3.7 billion plan. Two finalists will be chosen next week, and trustees will select a manager at their Nov. 12 meeting. The small-cap search is the last of three conducted as part of a revamp of the fund's $400 million international equity allocation.
Separately, the plan is continuing to research a possible hedge fund allocation, and Mr. Burns said he has been meeting with both single-strategy and fund-of-funds managers. No decision on a portfolio size has been made.