Ipac has appointed Pyramis Global Advisors (Pyramis) to manage $100 million in international smaller companies.
Pyramis is Fidelity International's institutional funds management arm.
Arrowstreet Capital currently manages $100 million in this sector, but an increase in scale for global small caps has enabled Ipac to add another manager and diversify manager risk in the process.
This week it was announced that Fidelity International had won a mandate from Western Australia's largest super provider GESB.
Along with Edinburgh Partners and Sarasin & Partners, Fidelity will help manage GESB's $2.5 billion international equities portfolio.
The appointments bring the total number of international equities managers to eight.
Ipac ended relationships with Integrity Investment Management, Maple-Brown Abbott, MIR Investment Management and Wallara Asset Management in August and September this year, after it concluded a review of its $4 billion Pathways multi-manager Australian equity portfolios.
The review also resulted in the hiring of two new fund managers, Lazard Asset Management and GMO, which brought the total number of managers to four.
