ING North America Insurance Corp., Atlanta, added several managers to its $900 million pension plan, confirmed Darryl Harris, pension committee chairman. Loomis Sayles will manage $45 million in active domestic large-cap growth equities; ING Alternative Asset Management and Ivy Asset Management will run roughly $22.5 million each in hedge funds of funds; and Russell/Pantheon will get $45 million for a private equity fund of funds.
Funding will come primarily from cash and possibly a redistribution of assets. No managers are being terminated.
Changes are based on an asset-liability study performed last year. Fund officials conducted a shortlist search for managers in May. Watson Wyatt Investment Consulting assisted.