Sacramento County (Calif.) Employees' Retirement System hired William Blair & Co. and Mondrian Investment Partners to run $22.5 million each in emerging markets small-cap equity, said Scott Chan, chief investment officer.
It is the $7.4 billion pension fund's first allocation to emerging markets small-cap equity. Funding is coming from rebalancing and cash.
Investment consultant Strategic Investment Solutions conducted the shortlist search.
William Blair and Mondrian already manage $95 million and $82 million, respectively, for the pension fund in developed markets international small-cap equity.
