Vermont Pension Investment Committee, Montpelier, named three finalists in its invitation-only search for a manager to run a $112 million commodities portfolio for the $3.7 billion Vermont State Retirement Systems.
The committee named Gresham Investment Management, Pinnacle Asset Management and Wellington Management as finalists, according to Oct. 27 meeting minutes.
The three managers will make presentations at the committee’s Nov. 24 meeting, with a decision following shortly thereafter.
The committee approved the search at its July 28 meeting because current manager Schroder Investment Management has been on watch for performance. Schroders spokeswoman Jessica Torchia declined to comment at that time. The firm has yet to be terminated.
Investment consultant NEPC is assisting.
Stephen Rauh, chairman of the committee, did not immediately reply to requests for further information.