South Carolina Budget and Control Board's investment panel recommended Nicholas-Applegate and Batterymarch as active domestic small-cap growth equity managers for the $24 billion South Carolina Retirement System, Columbia. Nicholas-Applegate would handle $90 million, and Batterymarch would run $60 million, said Michael Sponhour, spokesman. Funding would come from reducing a $274 million State Street Global Advisors S&P 500 index fund. The board will vote on the recommendations Sept. 28.
Separately, the panel renewed contracts with active domestic small-cap value equity managers J.L. Kaplan, which manages $301 million, and Boston Co. Asset Management, running $269 million.
Mercer Investment Consulting assisted.
