PHOENIX — Arizona Public Safety Personnel Retirement System hired Albourne Partners as an international private equity consultant.
Capital Dynamics was previously selected for the mandate, but contract negotiations were unsuccessful, said James Hacking, executive director of the $7 billion plan.
AURORA, Colo. — Aurora General Employees' Retirement Board committed $10 million to Abbott Capital Management VI, a private equity fund, said Thomas Connell, administrator for the $300 million plan.
Private equity constitutes 4.7% of total assets.
SUNBURY-ON-THAMES, England — BP Pension Trustees Ltd. rehired State Street Corp. to provide global custody, accounting, securities lending and performance measurement services for the £14 billion ($27.9 billion) BP Pension Fund, confirmed BP spokesman David Nicholas. Hewitt Associates assisted.
CHICAGO — The $6.5 billion Chicago Municipal Employees' Annuity and Benefit Fund hired Marquette Associates as investment consultant, effective immediately. Marquette replaces Becker, Burke Associates, said Terrance Stefanski, Chicago Municipal's executive director. A fee hike from Becker Burke prompted the search. Becker Burke was invited to rebid.
Separately, the fund committed up to $50 million to one of Adams Street Partners' private equity funds and $25 million to the Tishman Speyer Real Estate Fund VII, a value-added closed-end real estate fund, pending negotiations. The exact Adams Street fund to receive the commitment has not been determined.
GREENWOOD VILLAGE, Colo. — Colorado Fire and Police Pension Association rehired BNY Mellon as global custodian, confirmed Joseph Ailinger Jr., BNY Mellon spokesman. The custodian will also provide cash management, securities lending and performance measurement services for the $3.5 billion plan. Association CEO Bill Morris was not immediately available for comment.
GREEN BAY, Wis. — Foth & Van Dyke LLC hired Francis Investment Counsel as consultant to it $41 million 401(k) plan, said Jody Lowe, spokeswoman for Francis Investment. Officials at Foth & Van Dyke were not available for comment.
COPENHAGEN — Industriens Pensionsforsikring will invest £216 million ($426 million) on a notional basis in Investec Asset Management's Currency High Alpha fund, confirmed Investec spokeswoman Vian Sharif.
“We announced in May 2007 that we intended to diversify our portfolio into non-core asset classes, and this mandate is a result of that decision,” Jan Oestergaard, CIO of the 48.5 billion Danish kroner ($10.2 billion) fund, said in an Investec news release.
Mr. Oestergaard could not be reached by press time for further information.
PRINCETON, N.J. — Robert Wood Johnson Foundation hired BNY Mellon Asset Servicing as global custodian and to provide performance and risk analytics and securities lending services, confirmed Adam Coyne, spokesman. The $9.5 billion foundation's previous custodian was State Street. The foundation was “looking for enhanced capabilities and service,” Mr. Coyne said.
TOPEKA, Kan. — Kansas Public Employees Retirement System selected LP Capital Advisors as private equity consultant, according to the $14.1 billion plan's website. Alternatives consultant Portfolio Advisors previously helped KPERS in a smaller capacity, but the plan wanted to expand the role. CIO Robert Smith could not be reached for further information.
Separately, the board committed $35 million to CB Richard Ellis Strategic Partners U.S. Value V, and redeemed its investment in RREEF America III and is no longer invested in this fund, according to the website.
LOS ANGELES — Los Angeles City Employees' Retirement System committed $40 million to DLJ Real Estate Capital Partners IV, $25 million to Tuckerman Residential Income and Value-Added Fund II and $10 million to Integrated Capital Hospitality Fund, said Robert Aguallo Jr., general manager of the $10.8 billion system. Courtland Partners assisted.
PASADENA, Calif. — Los Angeles County Employees Retirement Association hired European Investors to manage a $100 million international real estate portfolio, said John McClelland, principal investment officer, real estate, for the $42 billion system. Funding came from cash. The system also committed up to $150 million to Cornerstone Hotel Income Equity Fund II.
WINNIPEG, Manitoba — Manitoba Teachers' Retirement Allowances Fund committed US$50 million to TD Capital Private Equity Investors Fund IV, according to the C$4.6 billion (US$4.5 billion) plan's website.
Jeff Norton, president and CEO, could not be reached for further information.
BOSTON — Massachusetts Pension Reserves Investment Management board hired international equity managers Mondrian Investment Partners and Pyramis Global Advisors to run up to $700 million each, Mondrian in deep value and Pyramis in core.
Funding will come partly from reducing an SSgA passive international equity strategy by $626 million to $2.592 billion, with another $581 million coming from other asset classes.
Separately, the board, which oversees $51.8 billion, committed $50 million to TowerBrook Investors III, a $2.75 billion middle-market buyout fund, and $40 million to Summit Partners Subordinated Debt IV, a $750 million fund.
LANSING, Mich. — Michigan Municipal Employees' Retirement System hired State Street Corp. for global custody and other services, including performance measurement, securities lending, cash management and investment compliance monitoring for the $6 billion system. “State Street's expertise in daily valuation as well as its ability to provide a total servicing solution was key to our decision,” said system CIO Jeb Burns in a news release from State Street. Mr. Burns did not respond to a call seeking further information. Northern Trust was the previous global custodian, according to the 2008 Money Market Directory.
LINCOLN, Neb. — Nebraska Investment Council committed €20 million ($31.6 million) to the Bridgepoint Europe IV fund and $25 million to CBRE Strategic Partners U.S. Opportunity Fund V, said David Bomberger, state investment officer. Ennis Knupp is investment consultant to the council, which oversees $15.3 billion in assets.
Nebraska also rehired State Street Corp. as global custodian for about $13.3 billion in retirement and other assets managed by the Nebraska Investment Council, confirmed Mr. Bomberger. State Street also was rehired for securities lending.
COLUMBUS, Ohio — Ohio School Employees Retirement System hired Cavanaugh MacDonald Consulting as actuary for the $11 billion fund, confirmed spokes-woman Julie Graham-Price. The contract of Buck Consultants expires June 30. Buck was allowed to rebid.
WARREN. Mich. — Seco Tools Inc. hired Principal Financial Group as bundled provider for its combined $90 million defined benefit and 401(k) plans, said Terri Hale, spokeswoman for Principal. Michael Neel, Seco director of finance and information systems, did not return calls seeking additional information.
DUESSELDORF, Germany — WestLB hired PIMCO as a manager to run a €23 billion ($36 billion) structured debt special purpose vehicle to shield the bank from further losses from the U.S. subprime fallout, confirmed Stephanie Hage-lueken, spokeswoman for the North Rhine-Westphalia Ministry of Finance, a co-owner of WestLB. It is possible other managers could help run the portfolio, but Ms. Hagelueken declined to comment whether others have been appointed. The move to separate the portfolio from the company balance sheet was meant to “ensure that WestLB does not incur further earnings losses ... due to possible fluctuations in the prices of the transferred structured securities,” according to a separate news release issued by WestLB, which had been managing the money.
