Graphic: The year in hirings
About $223 billion was allocated to new mandates in 2017, down from 2016’s $300 billion. Alternatives were in high demand during a relatively quiet year of manager hires.
Hirings by manager type: $223 billion was allocated among alternatives and traditional managers in 2017, with about 60% going to the former and 40% to the latter — almost a reversal from 2016.
Equity vs. debt: Traditional manager hiring volume in 2017 was $65 billion, less than half that of 2016. About $34 billion moved to equity managers, $11 billion to bond funds and the balance to other asset classes.
The leaders: BlackRock led hiring volume again in 2017. UBS was the next highest traditional manager, but alternatives managers Blackstone, Apollo and Carlyle all placed in the top five.
OCIO hires grow: Total 2017 hiring among OCIOs and general investment consultants was nearly identical to 2016. General consultants were still the norm for plans looking for outside advisers, but OCIOs took a larger slice of the pie in 2017.
Source: Based on data compiled by P&I as of Dec. 15, and not representative of aggregate industry asset allocations. Dollar values do not include DC plan assets.
Sources: Bloomberg LP, Morningstar Inc., The World Bank
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