Alaska Retirement Management Board, Juneau, hired T. Rowe Price and ArrowMark Partners to manage an initial up to $100 million each in domestic small-cap growth equity, pending successful contract and fee negotiations, said Judith Hall, liaison officer, in an email.
Separately, staff members will internally manage up to $100 million in an S&P 500 equal-weighted index portfolio and up to $200 million in an international smart-beta or factor-based strategy.
Funding sources for all of the new allocations have not yet been determined.
The board is also adding roughly $69 million to its internally managed S&P small-cap 600 index with funding from terminating a State Street Global Advisors Russell 2000 growth index strategy and an SSGA Russell 2000 value index strategy.
Finally, the board put Lazard Asset Management on watch for performance on an emerging markets debt strategy. The board has approximately $108.9 million invested in the strategy.
A Lazard spokeswoman was not immediately available for comment.
The board oversees more than $29 billion in defined benefit and defined contribution assets.
