El Paso City Employees lassos Riverbridge Partners for U.S. small-caps

El Paso (Texas) City Employees' Pension Fund hired Riverbridge Partners to manage about $17 million in domestic small-cap value equity, said Robert Ash, executive director.

Riverbridge replaces Wells Capital Management, which was terminated as part of the $650 million pension plan's restructuring of its domestic equity portfolio. Mr. Ash said Wells managed a “deep value” portfolio while Riverbridge manages a “core value” portfolio.

The change was recommended by investment consultant Callan Associates.