Wellesley (Mass.) Retirement System hired State Street Global Advisors and William Blair to manage $10 million each in active domestic large-cap equities, said Bruce Kosakowski, principal at Mercer Investment Consulting, the $100 million plan's consultant.
SSgA, whose portfolio will be funded from rebalancing, will manage a value portfolio; growth manager William Blair's mandate will be funded by terminating State Street Research, which ran a similar portfolio, Mr. Kosakowski said. SSR was terminated for performance and organizational changes, he said. Alyson Riley, State Street Research spokeswoman, did not return a call seeking comment by press time.
The plan's asset allocation is 60% equity, 40% fixed income.