Delaware Public Employees' Retirement System, Dover, hired BlackRock and Dodge & Cox to run a total of $190 million in domestic equities.
The $11.7 billion pension fund's investment committee on Nov. 17 approved hiring BlackRock to run $100 million in passive domestic small-cap equities, and Dodge & Cox to run $90 million in active domestic equities, recently released meeting minutes show.
The investment committee also voted to add $85 million to Dodge & Cox's existing active international equity portfolio, and redeem $90 million and $55 million, respectively, from active global equity portfolios managed by Baillie Gifford and T. Rowe Price Group, according to the minutes.
The remaining funding for the new portfolios came from cash, the minutes said.
Bert Scoglietti, director of policy and external affairs for the state's office of management and budget, could not be immediately reached for further information.