Search activity for the second quarter of 2018 increased 1.7% from the prior quarter, and 22.7% from the second quarter of 2017. There were 21 domestic equity searches up sparply from the period a year ago. This included Fonds de Reserve pour les Retraites' $4.8 billion in U.S. equity searches. Contrastingly, global equity searches were down more 50% year over year.
In hiring activity, $51.2 billion was at stake, down more than 6% from the previous quarter but up 7.7% from the second quarter of 2017. Legal & General Investment Management (Holdings) Ltd. won a $5.7 billion passive equity mandate from the Brunel Pension Partnership. Private equity mandates increased more than 25% year over year. This included TPG winning 14 mandates for more than $2 billion. The mandates were for multiple TPG funds. Landmark Partners LLC receieved 5 mandates in the quarter for $810 million. The majority of the assets came from the North Carolina Retirement Systems.
All information is based on mandates reported by Pensions & Investments' global reporting staff.