East Sussex County Council Pension Fund, Lewes, England, hired State Street Global Advisors and Longview Partners to manage global equities, according to a source at the £2.4 billion ($3.6 billion) pension fund.
SSgA will run a passive fundamental equity strategy valued between £100 million and £200 million, and Longview Partners was hired to manage an unconstrained long-only active global equity strategy of £75 million to £125 million.
Separately, Baillie Gifford & Co., Sarasin & Partners and Wellington Management were placed on a preapproved list to manage unconstrained active global equities. Information on whether any managers were terminated to fund the new portfolios was not available by press time.
Hymans Robertson advised.