The $5.3 billion Arkansas Public Employees Retirement System, Little Rock, has selected global tactical asset allocation (GTAA) and small-cap value managers, Pensions & Investments reports. Lombardia Capital Partners will run $100 million in small-cap value equities, while AQR Capital Management and Newton Capital Management will each manage $50 million in a global TAA strategy. The small-cap equities mandate will be funded from $100 million returned by the system’s longtime small-cap manager Westwood Management, while the GTAA allocation will be funded by liquidating a portfolio managed by UBS Global Asset Management and from assets managed by Invesco. Previously, Westwood managed $219.2 million in smidcap equities for the system as of June 30, 2010. Callan Associates assisted the retirement system.
Click here for the story from Pensions & Investments.
