Sanford (Fla.) Police Officers' Retirement System hired Glenmede Investment Management and RBC Global Asset Management to run about $2 million each in active domestic small-cap core equities, confirmed Susy Pita, administrator.
The $37 million pension fund issued an RFP in September in an effort to diversify, Ms. Pita said.
Funding comes from a reduction of about $4 million from Lee Munder Capital Group's active domestic small-cap core equity portfolio. She did not have information on how much Lee Munder is now managing.
Investment consultant Dahab Associates assisted.