Wyoming State Loan and Investment Board, Cheyenne, hired BlackRock and Van Berkom and Associates to manage active domestic small-cap equities, board documents revealed.
The board approved the hires at its Dec. 4 meeting. The allocation amounts were not disclosed.
Investment consultant RVK assisted.
The board oversees $21 billion in seven state permanent funds, including the $8.1 billion Permanent Mineral Trust, $4.1 billion Common School Permanent Land Fund and $2.2 billion Workers Compensation Fund, and two non-permanent funds, which include the state's $5.5 billion in operating funds.
The board has a target allocation of 3% to U.S. small-cap equities.
Patrick Fleming, chief investment officer, could not be immediately reached for comment.