Hirings

SACRAMENTO, Calif. — CalPERS committed $500 million to First Reserve Fund XI, an energy buyout fund. The $225.3 billion California Public Employees' Retirement System also committed %A5;19 billion ($162 million) to Carlyle Japan Partners II, a Japanese buyout fund; C$150 million ($130 million) to Richardson Capital Private Equity No. 2, a Canadian private equity fund; C$110 million to Tricor Pacific Capital Partners IV, a lower middle-market Canadian buyout fund; and up to $50 million to Acon-Bastion Partners II, a middle-market fund targeting companies serving the U.S. Hispanic population.

The system also selected Analytic Investors, First Quadrant, Goldman Sachs Asset Management, Quantitative Management Associates and State Street Global Advisors to be included on its pre-approved list of U.S. long/short equity managers.

COLORADO SPRINGS, Colo. — The $270 million El Paso County Retirement Plan selected Watershed Investment Consultants as general consultant, said David Klemmer, plan administrator. Watershed replaces Summit Strategies Group, which was eligible to rebid.

NEW YORK — The John A. Hartford Foundation hired Northern Trust as global custodian, confirmed Samuel R. Gische, finance director and controller of the $655 million foundation. Northern Trust replaces JPMorgan Chase. Mr. Gische declined to comment on the reason.

CHAMPAIGN, Ill. — Illinois State Universities Retirement System added the American Beacon Large Cap Value Plan Ahead, Buffalo Small Cap and Fidelity Real Estate Investment Portfolio funds as investment options in its $488 million 401(a) participant-directed plan, said Dan M. Slack, executive director. The funds are being added to provide additional market coverage.

WARRENVILLE, Ill. — The International Truck & Engine Corp. hired Chicago Equity Partners to run $60 million in enhanced index domestic large-cap core equities for its $1.7 billion retirement plan trust and $650 million retiree health benefit trust, confirmed Paul Cavazos, director of pensions. Mr. Cavazos declined to identify the previous manager, which was terminated for performance.

LONDON — The John Lewis Partnership Pensions Trust hired JPMorgan Asset Management to run £50 million ($98 million) in active Japanese equities for the £1.7 billion fund, said Mervyn Harvey, head of pensions. Funding came from reducing a £580 million passive U.K. and global equity portfolio managed by State Street Global Advisors.

"This has nothing to do with performance," Mr. Harvey said. "We just thought we should be able to do better (on returns) by going active."

ST. LOUIS — Worker Benefit Plans of the Lutheran Church-Missouri Synod will commit $20 million to Heitman Value Partners II, a real estate fund, confirmed Thomas Neely, CIO and CFO of the $3.4 billion fund. Funding will come from a rebalancing of assets; the move was made for diversification.

ST. PAUL, Minn. — The Minnesota State Board of Investment committed $200 million to CarVal Investors and $75 million to EBF & Associates, and made a follow-on commitment of $175 million to Hellman & Friedman, all private equity managers. The board oversees investment of $48 billion in state pension and operating funds.

SANTA FE, N.M. — The New Mexico Educational Retirement Board funded three of the five hedge fund-of-fund managers it hired in September, said Frank Foy, CIO of the $8.9 billion fund. The board invested $100 million each with Gottex Fund Management and Deutsche Asset Management and $50 million with Austin Capital Management. The final two managers' identities are being withheld pending funding. The hirings are part of a new 5% hedge fund allocation.

RALEIGH, N.C. — North Carolina State University hired SEI Investments as manager of managers for the $305 million N.C. State Investment Fund, confirmed Kathy Hart, university treasurer. The money had been managed by 16 investment firms, Ms. Hart said, and the university is maintaining its relationships with the hedge fund and private equity managers that run money for the fund, but she could not provide additional information.

HARRISBURG, Pa. — The Pennsylvania Public School Employees' Retirement System will invest up to $550 million in two real estate funds, according to a posting on the $57 billion retirement system's website. PSERS will invest up to $400 million in Morgan Stanley Real Estate Fund VI International and up to $150 million in O'Connor North American Property Partners II.

The fund will commit up to $300 million to Providence Equity Partners VI and up to $125 million to RCG Longview Equity.

LONDON — The £3.6 billion ($7 billion) Pensions Trust rehired Northern Trust as global custodian, confirmed Pensions Trust spokes woman Elizabeth Martin. The fund oversees pensions for the U.K.'s charitable, social, educational, voluntary and not-for-profit sectors. Ms. Martin could not provide further details at press time.

PHOENIX — The City of Phoenix Employees Retirement System selected Dimensional Fund Advisors to run between $140 million and $215 million in active domestic large-cap value equities, according to minutes of the $2 billion fund's Oct. 26 meeting, which were released Dec. 18. Pending contract negotiations, DFA will replace MacKay Shields, which ran $215 million in a similar style and was terminated last May. Consultant R.V. Kuhns assisted. Neither Donna Buelow, retirement program administrator for the system, nor Ryan Harvey, associate consultant at R.V. Kuhns, was available to provide further details.

ST, LOUIS — The Metropolitan St. Louis Sewer District Employees' Pension Plan rehired incumbent U.S. Bank as master custodian for the $163 million plan, pending contract negotiations, confirmed Karl Tyminski, district secretary-treasurer. New England Pension Consultants assisted.

TIGARD, Ore. — The Oregon Investment Council hired Institutional Shareholder Services to help compile a list of companies doing business in Sudan, said Michael Mueller, deputy CIO. The council oversees the $58 billion Oregon Public Employees Retirement Fund, Salem.

SAN DIEGO — The $7.6 billion San Diego County Employees Retirement Association committed $15 million to Cerberus Institutional Partners Series Four, said CEO Brian White.

DAYTON, Ohio — Sheet Metal Workers, Local 224, hired American Century Investments to manage $11 million in active domestic all-cap value equities, said Brian D. Spano, an American Century spokesman. Nancy L. Behr, administrative manager for the $50 million pension plan, wasn't immediately available to provide further details.

AUSTIN, Texas — The $100 billion Teacher Retirement System of Texas authorized up to $850 million in private equity and real estate commitments at its Dec. 14-15 meeting, confirmed spokeswoman Juliana Helton. The fund will commit up to $300 million to Providence Equity Partners VI and up to $200 million to Green Equity Investors V, both private equity funds; and up to $200 million to Heitman American Real Estate Trust and up to $150 million to real estate fund Colony Investors VIII. Altius Associates assisted the plan with the private equity recommendations; Townsend Group assisted with real estate.

The board also approved adding the ACI Multi-Strategy Market Neutral Fund to a pre-approved list of absolute return funds, although no investment amount was specified. Albourne American assisted.

ST. AUGUSTINE, Fla. — Tree of Life Inc. hired New York Life Investment Management as bundled provider for its $100 million 401(k) plan, confirmed Keith Morrison, director, compensation and benefits. NYLIM replaces Fidelity; the change was not related to performance, Mr. Morrison said.

LONDON — Unilever PLC appointed Kottmann Advisory as external consultant to advise the firm's pension funds on hedge fund-of-funds investments, said Angela Docherty, Unilever investment consultant. Unilever plans to launch a Luxembourg-based pooled investment fund early next year to enable its worldwide pension plans — which have assets totaling €18.5 billion ($24.53 billion) — to invest in hedge funds of funds. The U.K. pension plan is set to invest up to 5% of its £4.2 billion ($8.27 billion) in pension assets in hedge funds, said Ms. Docherty.