Rohm & Haas Co., Philadelphia, hired J.P. Morgan to run about $100 million or one-third of its pension fund's bond portfolio. The $1.1 billion fund also considered PIMCO and BlackRock. J.P. Morgan will split the portfolio with existing bond managers Jennison and Loomis Sayles, which formerly managed all of the assets. Frank Russell assisted.
Louisiana Municipal Police Employees' Retirement System, Baton Rouge, replaced two incumbent managers with firms started by teams that left each firm.
Zak Capital was hired to run $45 million in domestic midcap equity previously managed by Investment Advisers Inc. and Rockwood Capital Advisors was named to run $165 million in U.S. bonds previously run by Boatmen's Trust. Boatmen's and IAI were terminated after the departures of the teams that managed the portfolios for the $760 million fund. Summit Strategies assisted.
Fulton County Retirement System, Atlanta, hired Miller, Anderson & Sherrerd to manage $50 million in large-cap value equity. The $610 million fund will take money from an existing large-cap manager, which a fund official would not identify. Watson Wyatt assisted.