New York State Teachers' Retirement System, Albany, placed Montag & Caldwell on watch for underperformance of its $375 million active domestic large-cap growth equity portfolio, said spokesman John Cardillo. Grover Maxwell, who manages the account at the firm, did not return calls seeking comment.
Separately, the $73.4 billion system retained Peregrine Capital Management to handle $402 million in an active domestic small-cap growth equity portfolio and Baillie Gifford Overseas to run $376 million in active international equities. Also, up to $100 million was committed to Texas Pacific Group TPG IV; up to $50 million to Blackacre Institutional Partners; up to $40 million to Schroeder Ventures P123; and up to $32 million to Close Brothers Private Equity Fund VII. Funding will come from cash, said Mr. Cardillo.