Oakland County Employees' Retirement System, Waterford, Mich., hired Loomis Sayles to run $38 million in active domestic small-cap growth equities, confirmed Judy D. Fandale, retirement administrator of the $1.7 billion pension fund.
Loomis Sayles replaces NorthPointe Capital, which was terminated in February for performance and ran the money in a similar strategy. Other finalists were Cortina Asset Management and Cupps Capital Management.
The retirement system also hired Wells Capital Management as its first active emerging markets equity manager, running $33 million. Funding will come from rebalancing within the international equity portfolio, according to Ms. Fandale.
Asset Consulting Group assisted in both shortlist searches.