Denver Public Schools Retirement System hired Westwood Management to run $100 million in active domestic smidcap value equities and committed $15 million to KPS Special Situation Fund III, a private equity fund, and $10 million to LaSalle Income and Growth Fund V, a closed-end value-added real estate fund.
Funding for the smidcap investment will come from terminating Boston Co. Asset Management for performance; Boston Co. ran a similar portfolio for the $2.9 billion fund. Joe Ailinger, spokesman for Mellon, Boston Co.s parent company, was not able to comment by press time. Funding for the private equity and real estate funds comes from cash.
No consultant assisted in the invitation-only searches, which were undertaken last quarter.