Iowa Public Employees' Retirement System, Des Moines, placed RCM Capital Management on watch for performance of a $600 million active U.S. large-cap growth equity portfolio, according to a statement from Karl Koch, chief investment officer of the $23.9 billion pension fund.
Denise Lee, RCM spokeswoman, couldn't be reached for comment.
The pension fund also removed PanAgora Asset Management, which manages $500 million in an enhanced index U.S. large-cap equity fund, from watch. It was placed on watch last year for personnel changes.
Also, the Iowa PERS board approved naming BlackRock, Russell Investments and State Street Global Advisors to a preapproved list for transition management services, subject to contract negotiations. The board plans to award projects to any of the firms based on “their expertise, experience and estimated cost” for transactions as they arise, Mr. Koch said in the statement.
The selections were the result of an RFP issued in the summer. BlackRock and SSgA were the incumbents.