United Furniture Workers, Nashville, Tenn., hired Putnam Institutional Management to run $20 million in core growth equities for its $100 million fund. Putnam replaces another firm, which Willie Rudd, chairman of the fund, would not identify. Callan assisted.
Texas A & M University, College Station, hired Fund Evaluation Group as consultant to its $2.5 billion endowment fund.
The firm is conducting an asset allocation study, which should be finished within the next couple of months, said Kevin McGinnis, manager of banking and investments.
The fund had been without a consultant for two years. Fund Evaluation will assist Texas A & M with the $225 million in endowment assets it directly oversees. The rest of the assets are managed by the state's university system.
Watertown (Mass.) Contributory Retirement System hired Boston Partners Asset Management as a large-cap manager. The firm will manage $14 million and replaces Bay Bank. The termination was due to trustee concerns over Bay Bank's acquisition by Bank of Boston, said Joseph O'Reilly at Dahab Associates, the $45 million fund's consultant.
Yeshiva University endowment fund, New York, with $500 million in assets, hired Vinik Overseas Fund to run a $15 million hedge fund investment, said Bernard Pittinsky, director-finance. Assets came from cash flow.