Asset Class Pools

All assets in the Combined Funds are managed externally by institutional investment managers either in a separate account (primarily in public markets) or commingled with other limited partners (primarily in private markets).

To gain greater operating efficiency, external managers are grouped into several "Investment Pools" which are segregated by asset class.  Retirement plans participate in the asset class pools by purchasing units which function much like shares of a mutual fund. This structure allows the SBI to offer one or more of the investment pools to other investment programs. Although the Combined Funds and the Supplemental Investment Fund share many of the same asset class pools, some pools are exclusive to the Combined Funds.

Investment Managers By Asset Class

Public Equity

Manager Strategy Benchmark
ArrowMark Partners Small Cap Growth Russell 2000 Growth
Hood River Capital Management Small Cap Growth Russell 2000 Growth  
Rice Hall James & Associates Small Cap Growth Russell 2000 Growth  
Wellington Management Company   Small Cap Growth Russell 2000 Growth  
Goldman Sachs Asset Management Small Cap Value Russell 2000 Value
Hotchkis and Wiley Capital Management Small Cap Value Russell 2000 Value
Martingale Asset Management  Small Cap Value Russell 1000 Value
Peregrine Capital Management  Small Cap Value Russell 1000 Value
BlackRock Institutional Trust Company Passive Small Cap Russell 2000
Sands Capital Management   Large Cap Growth Russell 1000 Growth
Winslow Capital Management Large Cap Growth Russell 1000 Growth
Barrow, Hanley, Mewhinney & Strauss Large Cap Value Russell 1000 Value
LSV Asset Management Large Cap Value Russell 1000 Value
BlackRock Institutional Trust Company Passive Large Cap Russell 1000
Zevenbergen Capital Investments All Cap Russell 3000
BlackRock Institutional Trust Company Passive All Cap Russell 3000
BlackRock Institutional Trust Company Semi-Passive Russell 1000
J.P. Morgan Investment Management  Semi-Passive Russell 1000

 

Manager Strategy Benchmark
Acadian Asset Management  Developed Markets MSCI World ex US (net)
AQR Capital Management  Developed Markets MSCI World ex US (net)
Columbia Threadneedle Developed Markets MSCI World ex US (net)
Fidelity Institutional Asset Management   Developed Markets MSCI World ex US (net)
J.P. Morgan Investment Management   Developed Markets MSCI World ex US (net)
Marathon Asset Management  Developed Markets MSCI World ex US (net)
McKinley Capital Management   Developed Markets MSCI World ex US (net)
State Street Global Advisors Passive Developed Markets MSCI World ex US (net)
Macquarie Investment Management Advisers  Emerging Markets MSCI Emerging Mkts Free (net)
Martin Currie Emerging Markets MSCI Emerging Mkts Free (net)
Morgan Stanley Investment Management   Emerging Markets MSCI Emerging Mkts Free (net)
Neuberger Berman Investment Advisers   Emerging Markets MSCI Emerging Mkts Free (net)
Pzena Investment Management  Emerging Markets MSCI Emerging Mkts Free (net)
The Rock Creek Group  Emerging Markets MSCI Emerging Mkts Free (net)
State Street Global Advisors Passive Emerging Markets  MSCI Emerging Mkts Free (net)
Earnest Partners   China A Shares  MSCI China A Index
Earnest Partners   ACWI Ex US MSCI ACWI ex US (net) 
Record Currency Management   Currency Management NA

 

Manager Strategy Benchmark
Ariel Investments Global  MSCI ACWI Net USD
Baillie Gifford   Global  MSCI ACWI Net USD
Martin Currie Global  MSCI ACWI Net USD

Fixed Income

Manager Strategy Benchmark
BlackRock Financial Management  Core Bonds BBG Barclays US Aggregate
Dodge & Cox   Core Bonds BBG Barclays US Aggregate
Goldman Sachs Asset Management Core Plus Bonds BBG Barclays US Aggregate
Neuberger Berman Investment Advisers   Core Plus Bonds BBG Barclays US Aggregate
Western Asset Management Company  Core Plus Bonds BBG Barclays US Aggregate

 

Manager Strategy Benchmark
Ashmore Investment Management Emerging Market Debt   JPM JEMB Sovereign Only 50-50
BlackRock Financial Management  Opportunistic Fixed Income ICE BofA 3-Month T-Bill
Columbia Threadneedle  Credit Plus Credit Plus Blended Bmk*
KKR Credit Advisors High Yield ICE BofA US HY Cash Pay Constr
Oaktree Capital Management High Yield ICE BofA US HY Cash Pay Constr
Pacific Investment Mgmt. Co. (PIMCO)   Credit Plus Credit Plus Blended Bmk*
Payden & Rygel Multi-Asset Credit  Multi-Asset Credit Blended Bmk**
Prudential Global Investment Mgmt (PGIM) Multi-Asset Credit  Multi-Asset Credit Blended Bmk**
TCW Securitized Credit ICE BofA 3-Month T-Bill
     

*Credit Plus Blended Benchmark                                                                  ** Multi-Asset Credit Blended Benchmark                                    

    40% BBG Barclays US Corporate Bond Index                                              33.33% ICE BofA High Yield

    30% BBG Barclays US Mortgage Backed Index                                           33.33% S&P LSTA Leveraged Loan

    20% BofA ML High Yield BB-B Cash Pay Constrained Index                        33.33% JPM EMBI Global

    10% JPM EMBI Global Diversified Index

   

 

Manager Strategy Benchmark
BlackRock Financial Management  Treasury Protection BBG Barclays 5Yr US Tsy Index
Goldman Sachs Asset Management Treasury Protection BBG Barclays 5Yr US Tsy Index
Neuberger Berman Investment Advisers Treasury Protection BBG Barclays 5Yr US Tsy Index

 

Manager Strategy Benchmark
Neuberger Berman Investment Advisers Laddered Bond  ICE BofA US 3 Month T-Bill
Goldman Sachs Asset Management Laddered Bond  ICE BofA US 3 Month T-Bill
State Street Global Advisors Cash ICE BofA US 3 Month T-Bill

 

Private Markets

Manager Manager Manager
Adams Street Partners Crescendo Permal PE
Advent International GTCR Permira 
Affinity Ventures Goldman, Sachs & Co. Public Pension Capital Management
Apax Partners Goldner Hawn Johnson & Morrison Silver Lake Partners
Arsenal Capital Partners Green Equity Investors Split Rock
Asia Alternatives HarbourVest Summit Partners
Banc Fund Hellman & Friedman TPG Capital
BlackRock   IK Partners Thoma Bravo
Blackstone Group KKR Thomas H. Lee Partners
Blackstone Strategic Partners Lexington Partners Thomas, McNerney & Partners
Bridgepoint MHR Institutional Partners Varde Fund
Brookfield Asset Management Madison Dearborn Capital Partners Vestar Capital Partners
CVC Capital Partners Marathon Vista Equity Partners
Canyon Partners Merced Capital Warburg Pincus
CarVal Investors Neuberger Berman Wayzata Investment Partners
Cardinal Partners Nordic Capital Wellspring Capital Partners
Carlyle Group North Sky Capital Welsh, Carson, Anderson & Stowe
Chicago Growth Partners Oak Hill Capital Management Whitehorse Capital
Clearlake Capital Oaktree Capital Management Wind Point Partners
Court Square Paine Schwartz Windjammer Capital Investors

 

Manager Manager Manager
Audax Group Goldman, Sachs & Co. Oaktree Capital Partners
Avenue Capital Partners HPS Investment Partners PIMCO BRAVO
BlackRock KKR Prudential Global Investment Management
Brookfield Asset Management LBC Credit Partners Summit Partners
Energy Capital Partners Marathon TCW
Gold Hill Merit Capital Partners TSSP

 

Manager Manager Manager
BlackRock Energy Capital Partners Merit Energy Partners
EIG Global Energy Partners EnerVest Management Partners Natural Gas Partners
Encap Energy First Reserve Sheridan Production Partners
Energy & Minerals Group KKR  

 

Manager Manager Manager
Angelo, Gordon & Co. KKR Rockwood
Blackstone Group Landmark Partners Silverpeak Real Estate Partners
Blackstone Strategic Partners Lubert-Adler TA Associates Realty
Brookfield Asset Management Oaktree Capital Management  
Carlyle Group Rockpoint  

 

Manager Strategy Benchmark
NISA Cash Overlay  S&P 500
BlackRock  S&P 500 Index Fund  S&P 500