Ohio School Employees Retirement System, Columbus, hired Arrowstreet Partners to manage $75 million in active emerging markets equities.
The $17.4 billion pension fund's investment committee approved the hiring at its July 20 meeting, according to meeting highlights emailed by spokesman Tim Barbour.
Funding comes from cash. It is the second new emerging markets equity manager to be approved by the pension fund so far this year. The investment committee at its March 16 meeting had approved hiring Connor, Clark & Lunn to manage $100 million in active emerging markets core equities, also funded by cash.
As of May 31, the pension fund's actual allocation to global equities was 40.6%; the target is 45%.