Ohio Bureau of Workers' Compensation, Columbus, hired active domestic small-cap growth equity managers Cortina Asset Management and Stephens Investment Management to run a total of up to $158 million for the $21 billion State Insurance Fund, confirmed spokeswoman Melissa Vince.
The hirings are the result of new target allocations approved in January 2012. The target to active domestic small-cap equities is 1.5%, or about $315 million, split evenly between growth and value. Previously, the fund's 20% allocation to domestic equities was entirely passive.
How much each manager will run has yet to be determined. Ms. Vince did not have names of other finalists.
Investment consultant R.V. Kuhns & Associates assisted.