RICHMOND, Va. — The $39 billion Virginia Retirement System hired Wellington Management to run $400 million in active global equities, said Nancy Everett, chief investment officer. Wellington already manages $982 million in domestic fixed income for the system. Funding came from cutting back a State Street Global Advisors passive Russell 3000 index fund.
Separately, Blue Ridge Capital was hired to manage $50 million in a hedge fund, a new investment funded from cash, and Och-Ziff Capital Management was hired to run $50 million in a hedge fund, said Ms. Everett. The hedge fund hiring also was funded by cutting back the SSgA Russell 3000 index portfolio. The system has $9.2 billion left in the SSGA portfolio.
