Minnesota State Board of Investment, St. Paul, expanded its stable of active domestic large-cap growth equity managers for its $39 billion in pooled retirement plan assets. Six managers were hired to manage a total of $600 million to $700 million: INTECH, Jacobs Levy Equity Management, Knelman Asset Management, Sands Capital Management, Transamerica Investment Management and Winslow Capital. Individual portfolio sizes will be decided later, said Howard J. Bicker, executive director. Funding will come from reducing portfolios of existing U.S. large-cap growth stock managers; details weren't available.
Trustees of the $45 billion system also made additional commitments to existing alternatives managers. Up to $100 million will be awarded to private equity manager Goldman Sachs Capital Partners, and up to $150 million to CSFB Strategic Partners for investment in a secondary interest fund with real estate and venture capital components. The fund also committed $60 million to a new venture capital manager, Split Rock Partners.
