New Jersey Transit, Newark, is studying the addition of global fixed income as an asset class for its $300 million pension fund. The fund could make a decision in May.
Chartwell Consulting is assisting the study.
Further information was unavailable.
Value Asset Management is acquiring a majority interest in hedge fund operator Grosvenor Capital Management. Terms of the deal were not disclosed.
Grosvenor manages about $3 billion, of which about $1 billion is institutional. The deal is the third acquisition for VAM, a holding company formed in 1995 to acquire stakes in money management firms. Assets now managed by VAM affiliates total $7 billion.
Aon Corp., Chicago, has taken over the 401(k) plan assets of recently acquired Alexander & Alexander.
The newly merged plan totals more than $1 billion in assets. Aon provides the investment options and consulting and Wachovia does the record keeping for the combined plan. Fidelity, Janus and Aetna, which provided investment options for the Alexander & Alexander plan, have been terminated.
The Alexander & Alexander plan had $286 million in assets, according to Nelson's Directory of Plan Sponsors.