Wyoming State Loan and Investment Board, Cheyenne, hired Arrowstreet Capital to manage $350 million in active global equities, said Michael Walden-Newman, chief investment officer.
Grantham, Mayo, Van Otterloo & Co. was the other finalist.
The $11 billion board launched an invitation-only search in June after deciding to add a 3.1% target allocation to global equities. That allocation then reduced targets to domestic small-cap equities to 1.3% from 3% and international equity to 1.5% from 3%.
The board oversees the $6 billion Permanent Mineral Trust Fund, $2.8 billion Common School Permanent Land Fund and five other funds. The board also oversees $5.5 billion in state operating funds, which by state law invest in only cash and fixed income.
