Florida State Board of Administration, Tallahassee, hired Pacific Investment Management Co. to manage $1.96 billion in core fixed income and Prudential to managed $897 million in an enhanced passive, conservative core strategy, according to John Kuczwanski, FSBA communications manager.
The board, which runs $158.8 billion in assets, will fund the new managers from internally managed accounts, Mr. Kuczwanski said in an e-mail.
Wilshire Associates, an investment consultant to the board, assisted in identifying potential managers and finalists in a limited search process.
Separately, the board is searching for a senior investment officer to oversee its private equity and strategic investments, replacing Jim Treanor, who is resigning effective Aug. 3 to work in the private sector, Mr. Kuczwanski said.
The board hasn’t yet determined how his duties will be handled in the interim.
The board has $5.6 billion in private equity and $4.1 billion in strategic investments, comprising opportunistic debt and equity strategies, according to a May 30 FSBA report.
Duties for the position include overseeing manager and investment fund selection and monitoring and asset-class structures.
Qualifications include five to eight years of direct experience in corporate finance or overseeing or participating in the investment management processes for equity or fixed-income portfolios, private equity, venture capital or hedge funds.
Anyone interested may apply to Dorothy Melton, human resources manager, at P.O. Box 13300, Tallahassee, FL 32317-3300. Applications are due Aug. 5.
Details on Mr. Treanor’s plans were unavailable.