Crane Co., Stamford, Conn., will hire two active international equity managers to run $12.5 million each in portfolios benchmarked to the EAFE indexfor the company's $250 million master pension trust, said Gil A. Dickoff, treasurer. The new allocation was added to increase diversification as the result of a 2004 asset-liability study. Funding will come from a general rebalancing, and plan officials will not terminate any managers, Mr. Dickoff said. More money will be allocated to the managers later this year as cash becomes available. Plan officials will likely hire the managers later this month. He would not name the firms being considered.
Consultant CRA RogersCasey is assisting with the shortlist search.