Firm closes its second fund with total commitments of approximately $1 billion.
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
Decision follows a partial acquisition of the incumbent firm that has left its equity team with $800 million in assets under management.
Patrick Lee has joined Vaughan Nelson Investment Management as v.p. of institutional business development.
The firm added an investment team member from Mutual of America Capital Management to focus investment research and portfolio management.
The authority is seeking plan bundled services on behalf of its 457(b) deferred compensation plan.
The plan added a follow-on private equity commitment to a middle market buyout manager.
The selected firm will manage the city’s investment portfolios on a daily basis.
Newly enhanced requirements affect large hedge fund and private equity advisors.