Investment Managers

As of December 31, 2009, the General Board has contracted with the following investment managers:

Adams Street Partners, LLC
Chicago, Illinois
USEF - private equity

AMB Capital Partners, LLC
San Francisco, California
USEF - real estate

Baillie Gifford
Edinburgh, Scotland
IEF - international equity

BlackRock, Inc.
New York, New York and San Francisco, California
FIF - fixed income
USEF - domestic equity
IPF - inflation-protected fixed income
IEF - active currencies

BNY Beta Management
Boston, Massachusetts
Pittsburgh, Pennsylvania
USEF - derivatives
IEF - derivatives

BNY Mellon Cash Investment Strategies
San Francisco, California
Pittsburgh, Pennsylvania
SVF - fixed income
STIF - fixed income

Brown Capital Management, Inc.
www.browncapital.com
Baltimore, Maryland
USEF - domestic equity

Cabot Properties, Inc.
Boston, Massachusetts
USEF - real estate

Capital Guardian Trust Company
Los Angeles, California
FIF - emerging market debt
USEF - domestic equity
IPF - emerging market fixed income
IEF - developed and emerging markets international equity

CB Richard Ellis Investors
Los Angeles, California
USEF - real estate

Cerberus Institutional Real Estate Partners
New York, NY
USEF - real estate

Daruma Asset Management, Inc.
New York, New York
USEF - domestic equity

Disciplined Growth Investors
Minneapolis, Minnesota
USEF - domestic equity

Epoch Investment Partners, Inc
New York, New York
USEF - domestic equity

Equity International
Chicago, Illinois
IEF - real estate

European Investors Inc
New York, New York
IEF - international real estate securities

Genesis Investment Management, Ltd.
London, England
IEF - emerging markets equity

GKM Newport
Los Angeles, California
USEF - private equity

Gresham Investment Management LLC
New York, NY
IPF - commodities

Hoover Investment Management
San Francisco, California
USEF - domestic equity

Hotchkis and Wiley
Los Angeles, California
USEF - domestic equity

Internal General Board Management
FIF, BVSP, SVF - Loans to support Affordable Housing and Community Development

JP Morgan Asset Management
New York, New York
USEF - private equity

LM Capital, Inc.
San Diego, CA
FIF - domestic fixed income

Miller Howard
Woodstock, NY
USEF - domestic equity

Neuberger Investment Management
Chicago, Illinois
FIF, SVF - domestic fixed income
IPF - inflation-protected fixed income

Northern Trust Quantitative Advisers
Chicago, Illinois
USEF - domestic equity
BSVPF - domestic equity

Oaktree Capital Management, LLC
Los Angeles, California
FIF - fixed income

Pacific Investment Management Company (PIMCO)
Newport Beach, California
FIF - fixed income

Prism Capital
Chicago, Illinois
USEF - private equity

Prudential Investment Management Services, LLC
Parsippany, New Jersey
USEF - real estate

Putnam Investments
Boston, Massachusetts
IEF - international equity

Pyramis Global Advisors, a Fidelity Investments Company
Smithfield, Rhode Island
USEF - domestic equity

RCM Global Investors, LLC
San Francisco, California
USEF - domestic equity, endowment funds

RREEF
Chicago, Illinois
USEF and IEF - real estate securities

Seix Investment Advisors, Inc.
Woodcliff Lake, New Jersey
FIF - affordable housing

Sprucegrove Investment Management
Toronto, Ontario, Canada
IEF - international equity

Standish Asset Management
Boston, MA
fixed income

TA Associates Realty
Boston, Massachusetts
USEF - real estate

Transwestern Investment Company
Chicago, IL
USEF - real estate

TriCon Capital Group, Inc.
Toronto, Canada
USEF - real estate

Urban American
West New York, NJ
USEF - real estate

Urdang Capital Management
Plymouth Meeting, Pennsylvania
USEF - real estate

Wachovia Global Securities Lending, a Wells Fargo Company
Los Angeles, CA
BSVPF, USEF, IEF, FIF, IPF, SVF and STIF - securities lending

Wellington Management Company
Boston, Massachusetts
FIF - fixed income
USEF - domestic equity

Zevenbergen Capital Management
Seattle, Washington
USEF - domestic equity