Galliard Capital Management hired TIAA-CREF to manage $515 million in stable value assets, confirmed Tami Pearse, senior director, client portfolio management at Galliard.
TIAA-CREF will manage the assets for the $30 billion Wells Fargo Stable Value Fund, for which Galliard Capital is the subadviser.
The separate account portfolio will be managed through a guaranteed investment contract issued by TIAA-CREF Life Insurance Co., and the underlying assets will be managed in a short-duration investment strategy by TIAA-CREF Asset Management, according to a TIAA-CREF news release.
