Florida State Board of Administration, Tallahassee, will hire Smith Barney Capital and Trinity Investment Management as large-cap value managers, said Lan Janecek, chief of equities for the $70 billion fund.
Portfolio sizes have yet to be determined, but earlier estimates were between $300 million and $500 million. The mandates are expected to be funded from cash by year end, pending finalization of contracts.
Ennis Knupp is assisting.
Alaska State Pension Investment Board, Juneau, hired McKinley Capital to manage a $100 million U.S. equity portfolio for the Alaska Public Employees' and Teachers' Retirement System, said Steve Eason, an investment officer of the $11 billion system.
Ann Arbor (Mich.) City Employees' Retirement System hired Bradford & Marzec as a core-plus bond manager for its $350 million pension fund. The firm will run $45 million, which will come from rebalancing and the termination earlier this year of U.S. core bond manager Lexington Global. Bradford & Marzec will be allowed to invest up to 10% in high-yield bonds and 10% in international bonds. Callan assisted.