California Public Employees' Retirement System, Sacramento, hired...

California Public Employees' Retirement System, Sacramento, hired NorthRoad Capital Management to run $200 million in international equities as part of the $155 billion system's manager development program, said Brad Pacheco, CalPERS spokesman. Strategic Investment Group, one of two gatekeepers that selects managers for the program, chose Northroad, which is the 14th manager to be funded. Total funding now is $2.3 billion; $3 billion is allocated to the program. NorthRoad is the fourth international equity manager selected to date, Mr. Pacheco said.