Alaska Retirement Management Board, Juneau, hired Allianz Global Investors, Arrowstreet Capital and Baillie Gifford to manage $200 million each in active international equity, said Judy Hall, liaison officer for the board, in an e-mail.
The board oversees $25.2 billion in retirement assets, including $21.2 billion in defined benefit plan assets.
The search began in September. Gary Bader, chief investment officer, told Pensions & Investments then there was a high concentration of assets with the current managers and he wanted to diversify the lineup.
The pension fund has a 25% target allocation to international equity and is underweight by 1.1 percentage points, according to materials prepared for the April board meeting. Funding for the new managers will come from domestic equity and state contributions to the fund, Ms. Hall said.
Callan Associates assisted in the search.