Crane Co., Stamford, Conn., hired LSV Asset Management and Sanderson Asset Management to run $12.5 million each in active international equities, benchmarked to the MSCI EAFE index, for the company's $250 million master pension trust, subject to contract negotiations, 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. More money will be allocated to the new managers later this year as cash becomes available, Mr. Dickoff said.
Consultant CRA RogersCasey assisted with the shortlist search.