ANCHORAGE, Alaska — The $400 million Anchorage Police & Fire Retirement Board invested $20 million in the Vanguard Explorer Fund, replacing a small-cap growth mutual fund from Columbia Management Group, said Charles Laird, director. The firm continues to manage a $110 million fixed-income separate account for the fund. Callan Associates assisted.
YARMOUTH PORT, Mass. — Barnstable County Retirement System hired LSV to run active international value equities, pending contract negotiations, said Deborah Revoir, executive director. Officials at the $370 million plan will determine the portfolio size and the funding source after the contract is ratified by the system's board. Segal Advisors assisted.
CHICAGO — Boeing Co. hired Merrill Lynch Investment Managers to manage $750 million in active domestic low-duration fixed income for the company's corporate cash account, according to Megan Frank, Merrill Lynch spokeswoman. Nancy Cannon, Boeing director of compensation and benefits, could not be reached for comment.
WILKES-BARRE, Pa. — The $180 million Luzerne County Retirement Board hired Reed Conner & Birdwell to manage $3.5 million in active domestic small-cap value equities and NWQ Investment Management to run $3 million in active domestic small-cap and midcap value equities, according to Steve Flood, county comptroller and a member of the retirement board. Funding came from the performance-based terminations of active domestic small-cap managers Emerald Advisors and Westcap Advisors; Emerald managed $4 million in growth and Westcap managed $1.5 million in value. The remaining $1 million came from cash, said Gary Kriske, the Merrill Lynch consultant who works with the fund.
A spokesman from Emerald Advisors did not return calls by press time. Brad Slocum, managing director of Westcap, had no comment.
NEW YORK — The New York City Retirement Systems hired JPMorgan Fleming Asset Management and Fairview Capital Partners as managers of managers for its $175 million emerging private equity program. JPMorgan will receive $117 million and Fairview, $58 million, said Yvette Jackson, a city spokeswoman. The investments will be made on behalf of four of the city's retirement systems: the $31 billion Employees' Retirement System; the $23 billion Teachers' Retirement System; the $14 billion Police Pension Fund; and the $5 billion Fire Department Pension Fund.
WASHINGTON — The PBGC hired Prudential Investment Management, Wellington Management and Western Asset Management to run active domestic fixed-income portfolios, according to Jeffrey Speicher, spokesman. Each firm has received $2.5 billion.
HARRISBURG — Pennsylvania Public School Employees' Retirement System hired Conestoga Capital Advisors to manage $15 million in active domestic small-cap growth equities, according to Evelyn Tatkovski, a spokeswoman for the $43 billion pension fund. Funding comes from the plan's 1.5% allocation to the developmental fund program, which hires emerging minority- and women-owned money management firms based in Pennsylvania.