PERAC Memo #18 - 2011: Investment Manager List

MEMORANDUM #18, 2011 Mennis M E M O R A N D U M TO: All Retirement Boards FROM: Robert A. Dennis, Investment Director RE: Investment Manager List DATE: April 12, 2011 In accordance with 840 CMR 19.01, the following is the updated list of investment managers who have been the subject of an exemption in the asset classes of international equity, international fixed income, real estate, and alternative investments. The list consists of investment managers who have been the subject of applications for exemption on or before the effective date of the new investment regulations (7/10/98) and managers who have been approved after that date. The list includes only managers or funds that remain open to new investors; managers/funds that are closed will either not appear on this list or will be deleted upon closure. The significance of this list is that, for retirement boards that have been previously granted an exemption for the particular asset class, they need not apply for an exemption in order to retain managers on this list. In hiring managers on this list, boards are still required to submit to PERAC 1) a Competitive Process Notification Form, 2) a Vendor Certification Form, and 3) a Disclosure Form in accordance with 840 CMR 17.04 8(a) and (b) and to receive acknowledgement from PERAC prior to transfer of funds. Retirement boards are also free to consider managers not on this list and to request exemptions for such managers. Please note that, in accordance with 840 CMR 19.02 (5), exemptions are not required for the hiring of managers in the asset classes of domestic equity and fixed income. Only the submission of the three documents noted above is required. Accordingly, this list does not include managers in these asset classes. Please note that the list of managers who have been subject to an exemption (waiver) is a separate and distinct list from the listing of Investment Managers, Consultants, and Custodians. PERAC will update this list on a quarterly basis and will make this list available on the PERAC Home Page. If you have any questions, please call Rose Cipriani at 617-666-4446 ext. 931. Enclosure PERAC LIST OF INVESTMENT MANAGERS AS OF 3/31/11 INTERNATIONAL EQUITY MANAGERS

Aberdeen DBT Emerging Markets Equity Fund Acadian Emerging Markets Equity Fund Acadian International Equity Fund Acadian International Small Cap Fund AGF Global Resources Strategy Alliance Bernstein Emerging Markets Value Account Allianz NACM International Growth Opportunities Fund Allianz RCM Global Resources Fund Arrowstreet Capital, L.P. Artio International Equity Fund II Artio International Equity Trust Fund BlackRock Global Allocation Fund Boston Company EAFE Value Equity Fund Boston Company Emerging Markets Pooled Fund Boston Company Non-US Value Equity Fund Denver International Small Cap Equity Fund Dimensional Emerging Markets Value Portfolio Driehaus International Small Cap Growth Fund Earnest International Pooled Group Trust EuroPacific Growth Fund Evergreen International Small Cap Equity Strategy Fisher Investments Foreign Equity Fund Fisher Investments, Inc. Frank Russell International Fund GE International Equity (EAFE) Fund Global Currents International Equity Value Fund GlobeFlex International Small Cap Equity Fund GMO Global Balanced Asset Allocation Fund HGK International Equity Fund IRT International Equity Fund Kleinwort Benson Global Environmental Solutions Strategy Lazard Emerging Markets Equity Portfolio Lazard Freres International Equity Fund Legg Mason Emerging Markets Trust CI Matthews Pacific Tiger Fund Mellon Global Alpha I Fund MFS Institutional Advisors, Inc. MFS Institutional International Equity Fund Morgan Stanley Investment Management Munder International Small Cap Collective Equity Fund Neuberger Berman International Large Cap Fund – Institutional Class OFITC Emerging Markets Equity Fund PanAgora Asset Management PIMCO All Asset Fund PIMCO Global Multi-Asset Fund Pyramis Select International Equity Commingled Pool RBC GAM International Fund Rexiter Active Emerging Markets Fund RHJ International SEI Institutional Investments Trust World Equity Ex-US Fund SSGA Active Emerging Markets Index NL Fund SSGA Active Emerging Markets Index SL Fund SSGA All International Allocation SL Fund SSGA Daily MSCI-EAFE NL Fund SSGA International Alpha NL Fund

SSGA International Alpha SL Fund SSGA International Alpha Select NL Fund SSGA International Alpha Select SL Fund SSGA MSCI ACWI ex-US Index NL Fund SSGA MSCI-EAFE Index NL Fund SSGA MSCI-EAFE Index SL Fund SSGA MSCI-EAFE Small Cap Non-Lending Index Fund SSGA MSCI Emerging Markets Fund Templeton Foreign Equity Series Fund Templeton Institutional Funds, Foreign Equity Series Primary Shares Thornburg International Equity Fund (Q.P.), LLC Victory Capital Series, LLC Series C Vontobel Asset Management, Inc. Vontobel International Fund Wentworth, Hauser, and Violich William Blair International Small Cap Growth Fund WTC-CIF Opportunistic Investment Portfolio INTERNATIONAL FIXED INCOME MANAGERS Artio Global High Income Fund Baring International Group Trust Fund F BlackRock Global Allocation Fund Brandywine Global Fixed Income Fund Colchester Global Bond Fund Columbia Asset Management Delaware Pooled Trust Global Fixed Income Portfolio Delaware Pooled Trust International Fixed Income Portfolio Evergreen International Bond Fund Franklin Templeton Emerging Markets Debt Opportunities Fund GMO Global Balanced Asset Allocation Fund Lazard Emerging Income Fund Loomis, Sayles & Company, L.P. McDonnell Investment Management, LLC Mellon Global Alpha I Fund Mondrian International Fixed Income Fund, L.P. PIMCO All Asset Fund PIMCO Global Multi-Asset Fund SEI Institutional Investments Trust Emerging Market Bond Fund WTC-CIF Opportunistic Investment Portfolio REAL ESTATE INVESTMENT MANAGERS 1921 Realty Inc. AEW Partners VI, L.P. AmSouth Timber Fund Angelo Gordon Realty Fund VIII, L.P. Duff & Phelps Real Estate Securities Trust Intercontinental U.S. Real Estate Investment Fund, LLC INVESCO Core Real Estate Fund Landmark Real Estate Partners VI, L.P. Mesirow Financial Institutional Real Estate Global Partnership Fund II Mesirow Financial Real Estate Value Fund, L.P. Molpus Woodlands Fund III, L.P. Multi-Employer Property Trust Principal Green Property Fund I, L.P.

Prudential Real Estate Investors (PRISA) Fund RREEF America REIT II RREEF Global Real Estate Securities Fund Siguler Guff Distressed Real Estate Opportunities Fund, LP TA Realty Associates Fund IX ALTERNATIVE INVESTMENT MANAGERS ArcLight Energy Partners Fund V, L.P. Ascent Venture Partners V, L.P. Audax Mezzanine Fund III Constitution Capital Partners Ironsides II Energy Spectrum Partners VI L.P. FLAG Energy & Resources II, L.P. Foundry Venture Capital 2010, L.P. GoldenTree Distressed Debt Fund LP HarbourVest Partners IX – Buyout Fund LP HarbourVest Partners IX – Credit Opportunities Fund LP HarbourVest Partners IX – Venture Fund LP INVESCO Balanced-Risk Commodity Fund J.P. Morgan Global Maritime Investment Fund Lexington Capital Partners VII, L.P. Macquarie Clean Technology Fund II McDonnell Bank Loan Select Fund Mesirow Financial Private Equity Partnership Fund V Newstone Capital Partners II Oaktree Power Opportunities Fund III, L.P. Oppenheimer Global Resource Private Equity Fund I, L.P. Opus Commodities Core Plus A Fund Perella Weinberg Partners ABV Opportunity Fund II Permal Private Equity Opportunities IV, L.P. RMK Global Timberland Resources Fund RS Global Natural Resources Fund SEI Special Situations Fund SEI Structured Credit Fund, L.P. SSGA Global Natural Resources Non-Lending Index Fund Timbervest Partners III, LP Venture Lending & Leasing VI White Deer Energy, L.P. WTC-CIF Commodities Fund WTC-CIF Diversified Inflation Hedges Fund