Indiana's $12bn (£8.3bn) US based Public Employee's Retirement Fund has hired four international equities managers for its first entry into the asset class.
According to Patrick Lane, executive assistant at the Indiana fund, the four managers - Capital Guardian Trust, GE Asset Management, State Street Global Advisors and Fidelity Investment Management - will each receive $250m.
The Indiana PERF was assisted by William M Mercer.
Additionally, the fund is searching for an alternative investment consultant. Currently, it is sifting through applications and according to Lane, the fund will make a decison within the next three months.
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