The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Kristen Haunss at (212) 224-3990, or fax (212) 224-3602.
| New Searches | ||||||
| Asset | Mandate | |||||
| Fund Info | Size | Fund Type | Assignment | Size | Consultant | Comments/Firm Hired |
| Hampshire County Retirement System | USD138 | Public D.B. | Global/ Active | USD8 | Amanda Martin New | Searching for a global fixed-income manager. RFPs are available |
| Fixed-Income | England Pension Consultants | at (http://www.mass.gov/perac/rfp/hampshirecounty0905.pdf). | ||||
| Cambridge, MA | Proposals are due Sept. 23. | |||||
| Woburn Retirement System | USD85 | Public D.B. | US/Active Fixed-Income/ | USD5 | N/A | Searching for a high-yield bond manager. Email Gus |
| High-Yield | Aristizabal at (garistizabal@winvcounsel.com) for | |||||
| copy of the RFP. Proposals are due Aug. 29. | ||||||
| Kentucky Teacher Retirement | USD13,000 | Public D.B. | US/Active Fixed-Income/ | USD930 | Becker, Burke Associates | Searching for an investment grade core fixed-income manager. |
| System | Investment Grade | Contact Margarett Gorodess at (ktrsrfp@beckerburke.com) for | ||||
| copy of the RFP. Proposals were due June 20, 2005. | ||||||
| Idaho Endowment Fund | USD837.5 | Endowment | US/Active Fixed- | USD5 | RBC Dain Rauscher | Searching for a collateralized debt manager to |
| Investment Board | Income/CDO | handle USD5 million maiden allocation. | ||||
| Haverhill Retirement System | USD145 | Public D.B. | US/Active Fixed-Income/ | USD5 | Wainwright Investment | Issued an RFP for a high-yield bond manager. RFPs are |
| High-Yield | Counsel | available by contacting Jeff Locke at (jlocke@winvcounsel.com). | ||||
| Proposals were due March 17, 2005. | ||||||
| Medford Retirement System | USD125 | Public D.B. | US/Active Fixed-Income/ | USD6 | New England Pension | Searching for a high-yield bond manager. Email |
| High-Yield | Consultants | (publicfundresponse@nepc.com) for RFP. Proposals were due | ||||
| Jan. 21, 2005. Selection expected by 2Q 2005. | ||||||
| Ohio Public Employees | USD64,500 | Public D.B. | US/Active Fixed-Income/ | USD500 | Callan Associates | Issued an RFI for 2-3 high-yield bond managers. Responses |
| Retirement System | High-Yield | were due April 8 with selections in September 2005. | ||||
| Potential Searches | ||||||
| Illinois State Teachers | USD34000 | Public D.B. | US/Alternative/ | USD204 | Callan Associates | Plan is building up its distressed debt allocation. No timeframe |
| Retirement System | Distressed Debt | Chicago, IL | for decision on whether to search for a new manager or give | |||
| assets to an incumbent. | ||||||
| Oakland County (Mich.) Employees | USD1,000 | Public D.B. | US/Active Fixed-Income/ | N/A | Portfolio Analytics | Intends to review its fixed-income portfolio. |
| Retirement System | High-Yield | High-yield is a possibility. | ||||
| Road Carriers Local #707 | USD328 | Union/Multi- | US/Active Fixed-Income/ | N/A | N/A | May invest in high-yields to boost returns. Will |
| Pension Fund | employer D.B. | High-Yield | discuss at its two-day meeting in August. | |||
| Kern County (Calif.) Employees | USD2,000 | Public D.B. | US/Active Fixed-Income/ | USD97 | Wilshire Associates | W.R. Huff Asset Management was terminated for unspecified |
| Retirement Association | High-Yield | reasons. Assets were given to incumbents Goldman Sachs | ||||
| Asset Management and Western Asset Management. | ||||||
| Updated Searches | ||||||
| Jacksonville (Fla.) Police & Fire | USD860 | Public D.B. | US/ Active Fixed-Income/ | USD100 | Merrill Lynch Consulting | Searching for an intermediate bond manager. The firm will |
| Pension Fund | Intermediate | Services Group | replace an unidentified manager. Proposals are due July 15, | |||
| Jacksonville, FL | 2005. Finals presentations should take place by ate fall. | |||||
| Ohio Police & Fire Pension Fund | USD9,000 | Public D.B. | US/Active Fixed-Income/ | USD200 | Wilshire Associates | Currently selecting finalists. Expects to hire one or |
| High-Yield | two managers in September. | |||||
| Ohio Police & Fire Pension Fund | USD9,000 | Public D.B. | US/Active Fixed-Income/ | USD177 | Wilshire Associates | Shenkman Capital was terminated due to poor performance. |
| High-Yield | Assets will be used to fund new manager. | |||||
| Fairfax County (Va.) Uniformed | USD817 | Public D.B. | US/Active Fixed-Income/ | N/A | New England Pension | Holding off on its high-yield search until market conditions |
| Retirement System | High-Yield | Consultants | become more attractive. | |||
| Pennsylvania Public School | USD50,000 | Public D.B. | US/Active Fixed-Income/ | USD500 | Wilshire Associates | W.R. Huff Asset Management was terminated as a result of |
| Employees Retirement System | High-Yield | reducing exposure to high-yield fixed-income securities. | ||||
| IAM National Pension Fund | USD5,200 | Union/Multi- | US/Active Fixed-Income/ | USD150 | Hamilton Lane Advisors | Columbia Management Group was terminated due to |
| employer D.B. | High-Yield | organizational changes. No timeframe for decision | ||||
| on whether to conduct a replacement search. | ||||||
| National Electrical Benefit Fund | USD10,200 | Union/Multi- | US/Active Fixed-Income/ | USD160 | Marco Consulting Group | Columbia Management Group was terminated due to |
| employer D.B. | High-Yield | organizational changes. No timeframe for decision | ||||
| on whether to conduct a replacement search. | ||||||
| Florida State Board of | USD120,000 | Public D.B. | US/Active Fixed-Income/ | USD340 | Callan Associates | W.R. Huff Asset Management has resigned from its |
| Administration | High-Yield | portfolio for unspecified reasons. Assets reallocated | ||||
| to existing mandates and current managers. | ||||||
| Massachusetts Pension Reserves | USD36,000 | Public D.B. | US/Active Fixed-Income/ | USD300 | Wilshire Associates | Plan voted to terminate W.R. Huff Asset Management after |
| Investment Management Board | High-Yield | the firm reneged on a promise to return USD48,000 in fees. | ||||
| Assets will be divided amongst incumbents Loomis Sayles, | ||||||
| Seix Investment Advisors and Shenkman Capital Management. |