New York City Employees' Retirement System put active managers T. Rowe Price, Navellier and Gabelli Asset on watch for "compliance issues," said a spokeswoman for the $34 billion system. She would not elaborate, but said the managers would remain on watch until the fund's board meeting in the second quarter of 2005. T. Rowe Price runs $668 million in international equities and $513 million in domestic fixed income for the fund; Navellier, $60 million in domestic small-cap equities; and Gabelli, $51 million in domestic small caps. Officials at none of the three firms returned calls for comment by press time.
Additionally, the system committed up to $90 million to Lincolnshire Equity III, a leveraged buyout fund, and up to $55 million to New Mountain Partners II, a middle-market buyout fund.
