Investment Management Weekly articles from August 2007

Investment Management Weekly archives from August 2007

Pa. School Fund Looks at PE.
August 6, 2007... The $64.1 billion Pennsylvania Public School Employees' Retirement System (PSERS) considered investments in two private equity funds at its meeting last week. Up for discussion was a new commitment to CVC Capital Partners Asia Pacific...

Iowa PERS Issues Fund-of-Funds RFP.
August 6, 2007... As first reported on imweekly.com (8/1/07), the $23 billion Iowa Public Employees' Retirement System (IPERS) is searching for one or more hedge fund-of-funds managers, marking the plan's first foray into the asset class. "IPERS will be...

Lakeland Considers Large-Cap Restructuring.
August 6, 2007... The $535.4 million City of Lakeland Employees' Retirement System is considering restructuring the large-cap equity portion of its portfolio, confirmed Kevin Torres, the Florida plan's executive director. At its July 24 meeting, Lakeland's...

Subprime Fallout Reaching Institutions.
August 6, 2007... The $50 billion Massachusetts Pension Reserves Investment Management (PRIM) Board is the latest institutional investor to be affected by subprime market fallout contagion, the board revealed last week. The fund has lost $30 million through...

LACERS Looks at Non-U.S. Equity.
August 6, 2007... The Los Angeles City Employees' Retirement System (LACERS) recently considered making changes to its non-U.S. equity portfolio. According to the agenda for a July 24 meeting, the board was scheduled to discuss recommendations made by...

San Joaquin to Review Asset Mix.
August 6, 2007... The $2.1 billion San Joaquin County Employees' Retirement Association (SJCERA) could soon revamp its allocations to real estate and fixed-income, Annette St. Urbain, administrator at the plan, told IMW last week. Strategic Investment...

Iowa Regents to Retain LSV?
August 6, 2007... The $400 million Iowa Board of Regents will keep LSV Asset Management on as a mid-cap domestic equity manager if it follows the advice of consultant, Wilshire Associates. The board was scheduled to discuss the manager, who it recently...

Fort Lauderdale Narrows Searches.
August 6, 2007... The roughly $351 million Fort Lauderdale General Employees' Retirement System (GERS) has narrowed its searches for two equity managers down to six finalists, confirmed David Desmond, the Florida plan's administrator. The board selected...

Kansas PERS Hunts for Analyst.
August 6, 2007... The $14 billion Kansas Public Employees Retirement System (KPERS) is looking for an investment analyst to cover private markets, according to the plan's Web site. The fund wants to hire someone to communicate with investment managers...

Ohio BWC Gets New Board.
August 6, 2007... Ohio Governor Ted Strickland has appointed a new 11 member board of directors to oversee the $20.6 billion Ohio Bureau of Workers' Compensation (BWC), and serve as the primary fiduciary for the BWC's funds. The board, which is new not only...

New Proxy Rule Could Affect SRIs: SEC Explores Changes in Directors' Elections.
August 6, 2007... For decades, the question of investor access to company proxies has been a Pandora's box for the Securities and Exchange Commission, chock-full of competing interests and opinions from the investment community. The regulators' five...

Odds & Ends.
August 6, 2007... *The $41.5 billion Teachers' Retirement System of Illinois has selected Juan Lopez to serve as the emerging manager investment officer in a newly created position at the fund. He will be responsible for research, oversight and due diligence for...

DiNapoli Names New Deputy Comptroller.
August 13, 2007... New York State Comptroller Thomas DiNapoli has named Kevin Murray deputy comptroller in charge of the retirement services division, where he will oversee the $152 billion New York State Common Retirement Fund.Murray has over 25 years in public...

Arkansas Teachers Consider New A/A: May Invest More in Alternatives.
August 13, 2007... The $11.5 billion Arkansas Teacher Retirement System (ATRS) could soon tweak its asset mix to include a heavier weighting in private equity, real estate and other alternative investments. At the plan's investment committee meeting last...

St. Louis Plan to Launch Consultant Search.
August 13, 2007... The $183 million Metropolitan St. Louis Sewer District will issue an RFP next year for an investment consultant, a move that could potentially unseat incumbent New England Pension Consultants (NEPC), confirmed Karl Tyminski, secretary and...

BoA, U.S. Trust Merger Leads to New Team: Firm Gears Up for New Initiatives.
August 13, 2007... The completed merger between Bank of America (BoA) and U.S. Trust has resulted in BoA expanding its Global Wealth & Investment Management (GWIM) Alternative Investments (AI) group and putting new leadership in place. David Bailin, head of...

Gloucester Seeks Index Managers.
August 13, 2007... The $69 million Gloucester Contributory Retirement System has issued an RFP for an S&P 500 index manager to oversee a $9 million mandate. Further details-including why the Massachusetts plan launched the search-were sparse, as Linda Geary,...

Webster RS Issues Real Estate RFP.
August 13, 2007... The $18 million Webster Retirement System has launched a search for a real estate manager to oversee roughly $1.8 million for the Massachusetts plan in either a core or value-added strategy. According to the Massachusetts Public Employee...

CalPERS To Select Managers.
August 13, 2007... The investment committee of the $243 billion California Public Employees' Retirement System (CalPERS) is scheduled to make a final decision regarding the search for emerging fund-of-funds managers for a spring-fed pool at today's meeting. ...

Arkansas Cops Pick INVESCO.
August 13, 2007... The $250 million Arkansas State Police Retirement System has reportedly selected INVESCO Real Estate to manage a REIT portfolio. The plan has instructed its consultant, Callan Associates, to negotiate a contract with the firm to oversee...

ACERA Looks at More Real Estate.
August 13, 2007... The $5.3 billion Alameda County Employees' Retirement Association (ACERA) was scheduled to discuss new additions to its real estate manager roster last week, according to the plan's Web site. The agenda for an Aug. 8 meeting indicates that...

Pa. Plan Names Search Finalists.
August 13, 2007... The board of the $21 million City of Johnstown Combined Pension Plan-which includes the city's police, fire, non-uniform and bureau of sewage pension plans-has narrowed its search for balanced managers down to four finalists, confirmed Frank...

Missouri Plan Seeks Investment Officer.
August 13, 2007... The $27.7 billion Public School & Education Employee Retirement Systems of Missouri (PSRS/PEERS) is looking to hire a senior investment officer, according to its Web site. PSRS/PEERS is looking for someone to develop, implement and monitor...

Nevada Hunts For Deputy Treasurer.
August 13, 2007... The State of Nevada is looking for a deputy treasurer of investments to manage the internal portions of its general portfolio, local government pool and permanent school fund, confirmed Diane Vansickle, who is leaving the position. She...

Odds & Ends.
August 13, 2007... *The sale of Putnam Investments by Marsh and McLennan Companies to Great-West Lifeco has been completed. An agreement had been signed in February, and all of Putnam's shareholders endorsed the sale in May. The firm was sold for $3.9 billion,...

Deloitte: Funds Need More Risk Controls.
August 13, 2007... Hedge funds have to learn to open up a little while clamping down on operational risk management, according to a recent Web presentation by Deloitte & Touche Tohmatsu. As scrutiny over the $2 trillion and growing industry from regulators...

Alaska Perm. Fund Hires New Managers.
August 20, 2007... The $40 billion Alaska Permanent Fund Corporation (APFC) has added 10 new managers to its roster. The APFC board selected Dodge & Cox, GE Asset Management, Goldman Sachs Asset Management, Julius Baer Investment Management and State Street...

Oklahoma PERS Mulls Large-Cap Search.
August 20, 2007... The $6.4 billion Oklahoma Public Employees Retirement System (OPERS) could soon launch a search for a large-cap growth equity manager, confirmed Kirk Stebbins, the plan's CIO, prior to its meeting last Thursday. Stebbins explained that the...

Orange County Approves Multiple Searches.
August 20, 2007... The $7.7 billion Orange County Employees' Retirement System (OCERS) has launched three new manager searches, confirmed Robert Kinsler, spokesman for the California plan. The board approved searches for managers to oversee absolute return...

Survey Says... Soft Dollar Usage to Increase?
August 20, 2007... Institutional investors who have been more conservative with their usage of "soft dollars" recently, are planning to return to previous client commission sharing arrangements (CCAs) now that the Securities and Exchange Commission's (SEC) stance...

LACERS Looks at Bond Structure.
August 20, 2007... The investment committee of the $11.1 billion Los Angeles City Employees' Retirement System (LACERS) discussed potential changes to its $2.5 billion fixed-income portfolio at its Aug. 14 meeting, according to the agenda. Among the...

Illinois TRS Seeks Fixed-Income Firms.
August 20, 2007... The $41.8 billion Teachers' Retirement System of the State of Illinois (TRS) is seeking long duration international bond managers, as well as one or more commodity managers in the real return asset class, confirmed Eva Goltermann, spokeswoman...

SFERS Makes Private Equity Hires.
August 20, 2007... The $16.8 billion San Francisco City & County Employees' Retirement System (SFERS) approved up to $35 million in new private equity commitments at its Aug. 14 meeting, confirmed David Kushner, deputy director of investments with the plan. ...

Baton Rouge Fund Selects Finalists.
August 20, 2007... The board of the roughly $1.6 billion Louisiana School Employees' Retirement System (LSERS) has narrowed its search for a mid-cap domestic equity index manager to oversee a $50 million mandate, tracking the Russell Mid-Cap or S&P 400 indexes,...

New Mexico Plan Considers Funds.
August 20, 2007... The investment committee of the $11.5 billion New Mexico Public Employees Retirement Association (NMPERA) was slated to consider new investments in private equity and hedge funds last week According to the agenda for an Aug. 14 meeting,...

Stoneham Hunts For New Administrator.
August 20, 2007... The $60 million Stoneham Contributory Retirement System is looking for a new administrator to oversee the day-to-day operations at the plan, confirmed Barbara-Jo Belliveau, the current administrator of the Massachusetts plan. Stoneham's...

Kansas PERS Chooses New Investment Officer.
August 20, 2007... Cheri Woolsey has been appointed the new alternative investment officer for the $14 billion Kansas Public Employees Retirement System (KPERS), said Vince Smith, CIO at the plan. Ending a search for someone to fill the position that began at...

Odds & Ends.
August 20, 2007... * Patrick Sheppard is joining William Blair Investment Management on Sept. 4 as chief operating officer, where he will report to Michelle Seitz, head of investment management at the firm. Prior to joining William Blair, Sheppard was president...