In hiring activity, $45.2 billion was at stake, down 17.8% from the previous quarter but up almost 50% from the third quarter of 2015. State Street Global Advisors was propelled to the top of the ranking with two mandates from the Ohio Bureau of Workers' Compensation for a total of $3.884 billion. BlackRock received 14 mandates for a wide variety of strategies. Hedge fund hires increased both from the prior quarter and the year-ago period, but net inflows were negative. Very little activity was reported in the OCIO space.