Orange County Employees Retirement System, Santa Ana, Calif., is preparing to launch searches for two emerging markets equity managers and a real estate non-core commingled fund manager, according to Robert Kinsler, spokesman for the $10.6 billion pension fund.
Both searches were approved by the pension fund's investment committee at its June 26 meeting. The search for the emerging markets equity managers is part of a review of the role of AllianceBernstein in the emerging markets portfolio. OCERS placed AllianceBernstein's emerging markets equity portfolio on watch Sept. 26, according to investment committee minutes. Additional information on the searches was unavailable by press time.
Separately, OCERS hired Pacific Investment Management Co. and AQR to manage multistrategy real-return portfolios. OCERS is investing $405 million in the PIMCO All Asset All Authority Fund, which is subadvised by Research Affiliates using underlying PIMCO funds, and $75 million in the AQR Real Return Fund. Funding will come from the liquidation of the BlackRock Institutional Trust Co. and PIMCO TIPS portfolios. Further information was unavailable by press time.
OCERS also hired Grantham, Mayo, Van Otterloo and Standard Life Investments for a total of $200 million in global tactical asset allocation portfolios.
Mr. Kinsler could not be reached seeking additional information by press time.