New Zealand Superannuation Fund added three managers since July 1 and terminated one, according to an update of its list of external managers.
The Feb. 21 filing said the NZ$45 billion ($28.5 billion) sovereign wealth fund hired Rotterdam-based Robeco to manage a custom index for multifactor equities. A spokesman said the firm was hired during the fourth quarter.
In addition, the fund awarded two private markets mandates, hiring Hillwood Development Co. to manage a North American real estate allocation through the Texas-based firm's U.S. Industrial Club V vehicle, and New York-based Carlyle Group to manage diversified life and non-life insurance strategies.
The amount of the mandates to the three managers could not be immediately learned.
The updated manager listing also showed New Zealand Super terminated a segregated mandate for emerging markets equities with Chicago-based LSV Asset Management that the fund had maintained since 2005.
Marisa Rosenblatt, marketing and client service analyst at LSV, could not be immediately reached for comment.
New Zealand Super's most recent annual report showed LSV managing NZ$483 million for the fund as of June 30. A New Zealand spokesman said the relationship was closed in January, but declined to offer further details.
Staff writer Rob Kozlowski contributed to this report.
