Norfolk County Retirement System, Canton, Mass., committed or invested $224 million with six managers for the $1 billion defined benefit plan, confirmed Kathleen Kiely-Becchetti, executive director, in an email.
The board selected Income Research & Management to run $100 million in a U.S. opportunistic fixed-income strategy. AEGON USA Investment Management and Amundi Pioneer Asset Management were also finalists.
In addition, the board allocated a total of $66 million to three U.S. large-cap value equity managers: $33 million to Seizert Capital Partners, $23 million to RhumbLine Advisers and $10 million to Aristotle Capital Management. Amundi Pioneer and State Street Global Advisors were the other finalists.
The pension fund also committed $43 million to an open-end core U.S. real estate fund managed by Intercontinental Real Estate. CBRE Global Investors, Heitman and Principal Real Estate Investors were the other finalists.
Finally, the pension fund committed $15 million to a closed-end U.S. value-added real estate fund managed by TerraCap Management. Siguler Guff & Co. and CenterSquare Investment Management were the other finalists.
The pension fund's investment consultant, Wainwright Investment Counsel, assisted with the searches.
