Ohio State Teachers’ Retirement System, Columbus, hired Lazard Asset Management and Wellington Management Co. to run $400 million each in active international equities, spokesman Nick Treneff said.
The $74.8 billion pension fund issued an RFP in February. Mr. Treneff said the search was the result of an asset-liability study in 2012 that increased the target to international equities.
The target was increased to 26% from 23% in February 2012. The new targets were effective July 1, 2012.
Funding comes from cash. Investment consultant Callan Associates assisted.