SEARCHES & HIRINGS
The City of East Point (Ga.) Retirement Plan, with $45 million in assets, hired First Capital Group as a balanced manager for a $10 million portfolio. The equity portion of the portfolio will invest in U.S. value equities; the bond portion will be a U.S. core portfolio.
The money will come from existing manager Atlanta Capital, which will run the remaining $35 million in U.S. growth equity, and from core bond manager Pinnacle Investments, a local firm that recently went out of business. Pinnacle managed $6.7 million.
Investment Pension Monitoring assisted.
The Pension Plan of The Employees of the Government of Canada Locally Engaged in the United States of America, Ottawa, hired Northern Trust as trustee and custodian. Northern replaces Sun Life of Canada, which also was considered in the C$87 million (U.S.$61 million) plan's search.
Watson Wyatt assisted.