Minneapolis Employees' Retirement System hired Private Capital to...

Minneapolis Employees' Retirement System hired Private Capital to assume management of a $75 million active domestic small-cap equity portfolio, said Judith Johnson, executive director of the $1.3 billion plan. Funding came from Strong Capital Management, which was terminated because of ongoing SEC investigations into mutual fund late trading and market timing, Ms. Johnson said. Drew Wineland, Strong spokesman, said: "Though we are disappointed with this client's decision, we believe the significant changes under way at Strong should give investors confidence in maintaining their investments with our professionals."