Oregon Investment Council, Tigard, which runs the $63.1 billion Oregon Public Employees Retirement Fund, Salem, hired William Blair to manage $100 million in emerging markets small-cap equity, confirmed spokesman James Sinks.
It is the pension fund's first dedicated strategy in emerging markets small-cap equity, although the pension fund has exposure to small caps through core emerging markets managers. Funding is coming from cash, Mr. Sinks said. William Blair already managed about $187 million in a core emerging markets equity portfolio, as of June 30.
The pension fund also committed $300 million to Lone Star Real Estate Fund III, a distressed commercial real estate debt and equity fund managed by Lone Star Funds, and $200 million to RS Global Natural Resources Strategy, managed by RS Investment Management.
The pension fund invested in all 10 previous Lone Star offerings and committed $50 million to RS Natural Gas Strategy last year.
