San Diego City Employees' Retirement System's board on Friday hired William Blair for a $71 million smidcap core equity strategy.
Funding will come from the liquidation of assets invested in its small-cap equity portfolios managed by Dimensional Fund Advisors, Fisher Investments and BlackRock. The $7.9 billion pension plan launched an invitation-only search in March to remove structural bias from its U.S. equity portfolio. U.S. equities comprised 16.1% of fund assets as of March 31. SDCERS has a 18.6% target allocation to U.S. equities. SDCERS general investment consultant Aon assisted.