El Paso County Retirement Plan, Colorado Springs, Colo., committed $3.2 million to Siguler Guff Small Buyout Opportunities Fund III, a private equity fund of funds managed by Siguler Guff & Co., said Thomas Pfeifle, executive director of the $334 million pension fund, in an e-mail.
Additionally, the pension fund terminated international equity manager Vontobel Asset Management. Vontobel had been on watch because of the May departure of Rajiv Jain, who was co-CEO and chief investment officer.
Half of the proceeds, approximately $16.5 million, will be reallocated to existing emerging markets equity manager Aberdeen Asset Management, which currently runs about $16.7 million.
A search is underway for an additional emerging markets equity manager for the remainder of Vontobel's allocation.