Fonds de Reserve pour les Retraites, Paris, hired nine money managers to run actively managed equity allocations, according to a news release.
The €36.6 billion ($50.4 billion) pension fund launched the search in May 2013 for new managers for the allocations.
The pension fund hired Fidelity Gestion, Montanaro Asset Management, Standard Life Investments and Threadneedle Asset Management to run a total of €500 million in European small-cap allocations.
It also chose CM-CIC Asset Management, CPR Asset Management, Generali Investments Europe, Oddo Asset Management and Sycomore Asset Management to run a total of €300 million in small- and midcap French equities.
According to its latest annual report, for 2012, FRR has a 15.1% allocation to European equities.
The contracts run for four years, with the option of a one-year extension.
Spokesmen for FRR were not available to comment by press time.