New Mexico State Investment Council, Santa Fe, hired active domestic equity managers BlackRock, Cortina Asset Management, Denver Investment Advisors, Donald Smith & Co. and Seizert Capital Partners to run a combined $700 million.
BlackRock will manage a small-cap core portfolio; Cortina will run small-cap growth; Denver, midcap growth; Donald Smith, small-cap value; and Seizert, midcap core. The amount each manager will run hasn’t been determined, said Charles Wollmann, director of communications for the $14.7 billion system.
Funding will come from terminated equity managers EARNEST Partners, which handled $465 million in midcap core equities and $173 million in smidcap value, and Fox Asset Management, which runs $127 million in small-cap value equity portfolio.
“The council chose to redeploy these assets with a broader group of managers and a more diversified strategy, following extensive analysis and a wide-ranging manager search,” Mr. Wollmann said.
The system issued an RFP in June.