Iowa Public Employees' Retirement System, Des Moines, hired ING...

Iowa Public Employees' Retirement System, Des Moines, hired ING Clarion Partners to run a $100 million real estate portfolio, according to Melinda Prince, spokeswoman. ING Clarion will invest in property broadly diversified by type and geography. Funding will come from trimming domestic index equity funds run by Mellon Financial and Barclays Global Investors; the amount of the reductions will depend on where each fund is, relative to its target. Mellon runs $2.1 billion in an S&P 500 fund and $1.5 billion in a Mellon 450 fund for the $17.3 billion system, and BGI runs $830 million in an enhanced S&P 500 fund.