CalPERS hired Evergreen Investments, Putnam Investments and Boston Co. for a pre-approved list of active smidcap growth equity managers and Systematic Financial Management and Boston Co. for a pre-approved list of active smidcap value equity managers, both new additions for its supplemental income plans, with a combined $1.1 billion in assets. CalPERS issued an RFP on June 7.
Staff at the $250.4 billion California Public Employees’ Retirement System, Sacramento, also will create a pre-approved list of up to three general pension consultants for the supplemental income plans, said Geraldine Jimenez, division chief of the SIP. One consultant will help CalPERS develop its own target-date funds. The existing consultants are Pension Consulting Alliance, R.V. Kuhns and Strategic Investment Solutions, said Ms. Jimenez.
Trustees also renewed the contracts of Pareto Partners and State Street Global Advisors, the pension fund’s external currency overlay managers, for one year. Pareto has overlaid $4.17 billion and SSgA, $2.6 billion.
Separately, CalPERS will search for at least one non-investment-grade bond and leveraged loan manager. The amount to be managed has not been determined. Trustees in June increased the target for these assets to 15% from 10% of the $59 billion internally managed domestic fixed-income portfolio.
Finally, preliminary election results show Henry Jones, a retired chief financial officer with the Los Angeles Unified School District, won the retiree seat on CalPERS’ 13-member board of administration. He is replacing Robert Carlson, who is retiring in January after 36 years on the board.
