Clearwater Employees Pension Fund hires two large-cap value managers

Clearwater (Fla.) Employees Pension Fund hired Eagle Capital Management and Manning & Napier Advisors to run $30 million each in active domestic large-cap value equities, confirmed Steve Moskun, cash and investments manager.

The $750 million pension fund conducted an invitation-only search in June following the termination for performance of active domestic large-cap value manager Aletheia Research and Management, which ran $30 million. Aletheia officials could not be reached for comment by press time.

Mr. Moskun said the rest of the funding comes from Northern Trust Global Investments' passive large-cap value portfolio, which now has $30 million. The board decided to change the allocation of large-cap value to two-thirds active, one-third passive.

The other finalist was O'Shaughnessy Asset Management.

Investment consultant CapTrust Advisors assisted.

— Contact Rob Kozlowski at rkozlowski@pionline.com | @Kozlowski_PI