Searches and Hires

Vermont chooses Strategic Global Advisors for international small-cap equity

Vermont Pension Investment Committee, Montpelier, hired Strategic Global Advisors to manage $89 million in an international small-cap equity strategy, confirmed Matt Considine, director of investments, in an email.

The committee, which oversees the investment management of the $4 billion Vermont State Retirement Systems, made the commitment after SAG presented its small-cap strategy at a board meeting Tuesday. A funding source for the allocation has not yet been determined. The hiring is contingent upon successful contract negotiations.

The search for a new small-cap manager was launched in January as part of an overall asset reallocation. The Boston Co. was the other finalist, which also presented at the meeting.

The committee also approved extending its contract with its investment consultant, NEPC, for five years, contingent upon Margaret Belmondo continuing to serve as lead consultant.