Missouri State Employees’ Retirement System, Jefferson City, hired Baillie Gifford Overseas to run a $100 million active international growth equity mandate, confirmed Christine Rackers, spokeswoman for the $7 billion fund.
The portfolio is being funded by reducing allocations to existing managers, but none will be terminated, Ms. Rackers said in an e-mail response to questions.
The shortlist search was conducted by the system’s general consultant, Summit Strategies Group.
Separately, MOSERS awarded $160 million in private equity and hedge fund mandates during the fourth quarter of 2009, according to the e-mail from Ms. Rackers.
The retirement system awarded a $10 million private equity mandate to DRI Capital and $50 million multistrategy hedge fund mandate to Diamondback Capital Management in October; a $50 million global value and relative value hedge fund account to Brevan Howard Asset Management in November; and a $50 million multistrategy hedge fund portfolio to Elliott International in December.
The system’s policy asset allocation is 45% public equity, 30% public debt and 25% alternative investments.