Skip to main content
MENU
Subscribe
  • Sign Up Free
  • LOGIN
  • Subscribe
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Face to Face
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • WPS Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • ESG Sustainability - Gaining Momentum
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2023 Defined Contribution East
    • 2023 ESG Investing
Breadcrumb
  1. Home
  2. Print
May 15, 2006 01:00 AM

Hirings

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print
    CalPERS

    SACRAMENTO, Calif. — The $210 billion California Public Employees' Retirement System committed $45 million to Lombard Asia III, a $153.5 million private equity fund focusing on non-controlling stakes in the Asia Pacific region (ex-Japan). CalPERS also committed $23.8 million to ITU Ventures III, a $160 million seed capital and early stage venture capital firm investing in technology businesses.

    Chicago Police

    CHICAGO — Chicago Policemen's Annuity and Benefit Fund hired Taplin, Canida & Habacht to run $50 million in active domestic core fixed income and LM Capital Group to manage $25 million in core-plus fixed income, confirmed John Gallagher Jr., executive director. Core-plus is a new allocation for the $3.9 billion pension fund. Taplin replaced Holland Capital Management, which was terminated because of performance, according to a news release from the fund. Allison Grant Williams, Holland's client service and marketing director, was not available for comment at press time.

    Additional funding for the new mandate will come from rebalancing the fund's $36 million foreign equity portfolio. No managers will be terminated.

    Ennis Knupp assisted with the search, Mr. Gallagher said.

    Citigroup U.K.

    LONDON — Citigroup-United Kingdom hired Standard Life Investments as investment manager for four defined contribution schemes with a combined £700 million ($1.3 billion) in assets, according to a news release. Citigroup is provider of the four plans. Barry Cameron, spokesman for Standard Life, could not be reached by press time to provide details.

    Detroit Police & Fire

    DETROIT — Detroit Police and Fire Retirement System hired Seneca Capital Management and PENN Capital Management to handle $50 million each in high-yield fixed income, according to the $3 billion retirement system's website. Both investments will be funded from cash. Cynthia Thomas, assistant executive secretary, was not available to provide further details.

    Separately, the system will invest up to $10 million with hedge fund Oracle Partners, according to the website. Walter Stampor, executive secretary, did not return calls seeking further details.

    Falkirk Council

    FALKIRK, Scotland — Falkirk Council Pension Fund appointed Newton Investment Management to run £170 million ($316.1 million) in global unconstrained equities, said Alastair Redpath, pension fund manager.

    Officials of the £850 million fund started appointing specialist managers late last year. All the assets had been managed in balanced mandates by Henderson Global Investors, Capital International and Schroders. Henderson was terminated as part of the restructuring; Capital and Schroders were retained, with Capital now managing £255 million in global equities and Schroders managing £425 million in U.K. equities, bonds and property.

    Stichting Federatief

    HEERLEN, Netherlands — Stichting Federatief Pensioenfonds appointed Goldman Sachs Asset Management to manage the entire €330 million ($419.5 million) pension plan in a multiasset mandate, said Eric-Jan Reemers, adviser to the plan board.

    The plan had been administered and managed by Fortis Investment Management, which plan trustees decided to terminate because of poor investment performance, he said. Fund officials also appointed Northern Trust as global custodian; Fortis was the previous custodian. Fortis Executive Director Jan Lodewijk Roebroek said he would not comment on individual clients.

    First Trust Portfolios

    CLEVELAND — First Trust Portfolios hired Valhalla Capital Partners as subadviser to the $167 million First Trust Strategic High Income Fund, according to First Trust spokeswoman Jane Doyle. Valhalla replaces Hilliard Lyons Asset Management; several managers at Hilliard bought out the firm's high-yield portfolio and formed asset management company Valhalla, according to Ken Mathis, managing partner at Valhalla.

    Harrods

    LONDON — Harrods Ltd. Group Pension Plan hired Insight Investment to manage £46.5 million ($85.6 million) in active domestic fixed income, confirmed Andrew Welch, head of institutional client services at Insight. Mr. Welch declined to identify the previous manager or provide further details. Michael Mann, Harrods spokesman, was unavailable for comment at press time. Harrods Group Pension Plan has £178 million in assets, according to the 2005 Pension Funds and Their Advisers.

    Hawaii Employees

    HONOLULU — Hawaii Employees Retirement System hired CS McKee to run $250 million in active domestic large-cap value equities, said Kimo Blaisdell, chief investment officer of the $9.9 billion fund. It is a new allocation resulting from the "continuation of changes" introduced into the system's $1.1 billion overall value portfolio, over a period of time, Mr. Blaisdell said. Funding came from rebalancing.

    Illinois State Universities

    CHAMPAIGN, Ill. — The Illinois State Universities Retirement System plans to add a series of seven TIAA-CREF lifecycle funds as investment options for its $396 million participant-directed 401(a) plan, said Daniel L. Allen, chief investment officer.

    Iowa Public Employees

    DES MOINES, Iowa — Iowa Public Employees' Retirement System hired Gabriel Roeder Smith to conduct an actuarial audit. The $19.3 billion system is evaluating the actuarial work provided by its current actuarial consultant, Milliman, including valuation of accrued liability and actuarial assumptions. Gabriel Roeder Smith is expected to present its report to the board in September, said Melinda Prince, spokeswoman, in a statement.

    Leicestershire County

    LEICESTER, England — Leicestershire County Council Pension Fund hired Goldman Sachs Asset Management to run a £270 million ($496 million) active global equity portfolio as part of a restructuring that also includes the fund's first active currency strategy, according to Colin Pratt, investments manager.

    Following a strategic review conducted by investment consultant Hymans Robertson, the board of the £2 billion pension fund decided to discontinue a £402 million passive multiasset portfolio that has been managed by Barclays Global Investors since 1992. The decision was not related to performance, Mr. Pratt said in a prepared statement.

    The money was used to fund the GSAM portfolio, in addition to bolstering existing portfolios — Standard Life Investment received an additional £70 million for its U.K. active equity portfolio; Morley Fund Management received another £35 million in an active bonds/property portfolio; and UBS Global Asset Management is running an additional £27 million in an active multiasset portfolio.

    The fund's management board also hired Millennium Global Investments and Mellon Capital Management to each manage a £340 million active currency portfolio. Millennium will also run a £680 million passive currency portfolio that seeks to hedge 70% of its currency exposure related to overseas equity.

    Los Angeles Fire and Police

    LOS ANGELES — Los Angeles Fire & Police Pension System hired REIT managers Adelante Capital Management, Principal Global Investors and Morgan Stanley Investment Management to run $70 million each, said Tom Lopez, chief investment officer of the $13.8 billion system. These are the system's first REIT-only managers. Funding will come from the system's $4.7 billion large-cap stock portfolios. No further information was available.

    The system also committed $5 million to Rustic Canyon/Fontis Partners Fund I, said Mr. Lopez. The fund is a late-stage private equity fund investing mainly in companies serving ethnic communities in the Western United States.

    Montana Board of Investments

    HELENA, Mont. — Montana Board of Investments hired Western Asset Management, Goldman Sachs Asset Management, Enhanced Investment Technologies and T. Rowe Price to manage $125 million each as part of a new enhanced domestic equity index allocation, pending contract negotiations, said Carroll South, executive director. Funding will come from reducing the $7 billion board's internally managed $1.6 billion domestic equity allocation. The new allocation was made for diversification. R.V. Kuhns assisted.

    New York State Teachers

    ALBANY, N.Y. — New York State Teachers' Retirement System committed $126 million to Permira IV; $100 million each to TPG Partners V and Parish Capital Fund II; $75 million to Ares Corporate Opportunity Fund II; $38 million to Parish Capital Europe Fund I; and $35 million to ABRY Senior Equity II, all private equity funds. The $88 billion system also committed $50 million to Blackstone Real Estate Partners V.

    Pennsylvania Public Schools

    HARRISBURG, Pa. — Pennsylvania Public School Employees' Retirement System will invest $1.1 billion in real estate and private equity funds, according to the $54 billion retirement system's website. It committed up to €300 million ($378.18 million) in the Permira IV private equity fund; up to $200 million in TPG Partners V; up to $112.5 million to Gleacher Mezzanine Fund II; up to $100 million each to ARCap Real Estate Special Situation Mortgage Fund and Quaker BioVentures II; and up to $75 million to LEM Real Estate Mezzanine Fund II. The system also will invest up to $150 million in Apollo Real Estate Finance Corp.

    The fund had roughly 9.4% of its assets in private equity and 4.8% in real estate as of Sept. 30, according to data supplied to Pensions & Investments.

    San Francisco City & County

    SAN FRANCISCO — San Francisco City & County Employees' Retirement System will invest up to $25 million in Fox Paine Capital Partners III and up to $20 million in Windjammer Senior Equity Fund III. The board of the $14.6 billion fund also approved a recommendation to renew the system's contract with real estate consultant The Townsend Group for five years, Mr. Kushner said. The current contract expires in June.

    Strathclyde

    GLASGOW — Strathclyde Pension Fund hired Millennium Global Investments, Mellon Capital Management and Record Currency Management to each manage an active £150 million ($278 million) currency portfolio seeking returns of 100 to 150 basis points net of fees, according to a news release. Hymans Robertson advised. The fund's asset allocation is 75% equities, including active and passive U.K., global and emerging markets; 15% global bonds; and 10% real estate. David Crum, CIO of the £8.5 billion fund, could not be reached by press time for comment.

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    Gender diversity is improving on FTSE 350 boards
    Gender diversity is improving on FTSE 350 boards
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    The Institutional Investor's Guide to ESG Investing
    Sponsored Content: The Institutional Investor's Guide to ESG Investing

    Reader Poll

    January 25, 2023
    SEE MORE POLLS >
    Sponsored
    White Papers
    Show Me the Income: Discovering plan sponsor and participant preferences for cr…
    The Future of Infrastructure: Building a Better Tomorrow
    Fulcrum Issues: Equity Returns and Inflation — Choose Your Own Adventure
    What Matters Most in Considering a Private Debt Strategy
    Why pursue direct lending in the core middle market?
    Research for Institutional Money Management
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    December 12, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Face to Face
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • WPS Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • ESG Sustainability - Gaining Momentum
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2023 Defined Contribution East
      • 2023 ESG Investing