New Mexico Public Employees’ Retirement Association, Santa Fe, hired J.P. Morgan Asset Management to run $150 million in active domestic small-cap growth equities, pending contract negotiations, said Joelle Mevi, chief investment officer of the $11.7 billion association.
Eagle Asset Management was chosen as standby manager if contract negotiations with J.P. Morgan fall through, she said.
An RFP was issued in February. Association officials initiated the search as part of a switch to more active management in line with a new asset allocation adopted by the board in June.
Funding came from the October termination of State Street Global Advisors, which ran $184 million in a domestic small-cap index fund.