Ohio School Employees Retirement System, Columbus, approved manager hires and commitments totaling $340 million.
The $17.2 billion pension fund's investment committee at its Dec. 21 meeting approved hiring J.P. Morgan Asset Management and T. Rowe Price Group to manage $100 million each in active domestic large-cap equities, and Lazard Asset Management to run $100 million in active emerging markets equities, according to meeting highlights emailed by spokesman Tim Barbour.
Funding comes from cash, the highlights said.
The committee also approved a commitment of $40 million to value-added real estate fund Blackstone Strategic Partners Real Estate Fund VIII. It is the pension fund's first commitment to a Blackstone fund.
As of Oct. 31, the actual allocations to global equities and global real assets were 39.1% and 20.6%, respectively; their respective targets were 41% and 20%.
