San Bernardino fund considers alpha strategy

The San Bernardino (Calif.) County Employees' Retirement Association will decide at its Nov. 13 investment committee meeting whether to hire Four Corners Capital Management, State Street Global Advisors and Golden Tree Asset Management to run a new alpha pool credit strategy, said Don Pierce, investment officer. Staff is recommending that Four Corners manage $40 million, SSgA run $30 million and Golden Tree handle $30 million. If approved by the investment committee, the $5.1 billion system's board will vote on the proposal Dec. 7. Funding for the new mandate will come from cash.