San Diego County Employees Retirement Association hired fixed-income managers Hotchkis and Wiley Capital Management and Hoisington Investment Management to run $200 million each.
Hotchkis and Wiley will be managing a high-yield strategy, making the $7.2 billion system the first to hire the firm for that strategy since high-yield portfolio managers Ray Kennedy and Mark Hudoff joined the firm from PIMCO in March 2009, said Bob Dochterman, chief marketing officer at Hotchkis and Wiley.
Hoisington will be managing a core duration match account.
Information on funding for the two hirings was unavailable. Lisa Needle, assistant chief investment officer, could not be reached by press time.