Orange County Employees Retirement System, Santa Ana, Calif., hired agriculture managers Hancock Agricultural Investment Group to run $80 million and UBS Global Asset Management to handle $40 million, contingent on legal review of the contracts, Robert Kinsler, spokesman for the $8.3 billion system, wrote in an e-mailed response to inquiries.
The hirings are the first from a new 1.5% allocation to agriculture approved by the board in June. The mandates were the result of a invitation-only search.
System officials also committed $45 million to the 2011 annual pool fund managed by Abbott Partners and $20 million to Adams Street Partnership Fund Program 2011, both private equity fund of funds.
