Arkansas Public Employees Retirement System, Little Rock, hired Acadian Asset Management and Franklin Templeton to manage a total of $330 million in international small-cap equities, confirmed Carlos Borromeo, chief investment officer for the $9 billion pension fund.
The mandate will be split evenly between the two managers.
Funding will come from a passive investment in an ACWI ex-U.S. fund.
JO Hambro Capital Management and Lazard Asset Management were the other two managers who were interviewed at APERS' Wednesday board meeting.
