Sacramento County (Calif.) Employees' Retirement System hired Acadian Asset Management to run about $100 million in active international small-cap value equities.
The $11.9 billion pension fund's board approved the hiring at its March 15 meeting, recently released meeting minutes show.
The pension fund conducted a shortlist search following the termination of Mondrian Investment Partners from a similar portfolio. Assets were parked with a passive portfolio managed by State Street Global Advisors.
Other finalists were Harris Associates, LSV Asset Management and Thompson Siegel & Walmsley.
As of Dec. 31, the actual allocation to global public equities was 40.6%; the target is 40%.
Investment consultant Verus Advisory assisted.
Steve Davis, chief investment officer, could not be immediately reached for further information.
