Norwich Employees selects ClearBridge for large-cap growth

Norwich (Conn.) Employees’ Retirement Fund hired ClearBridge Investments to run an $18 million large-cap equity growth allocation on behalf of the city’s $155 million pension plan.

ClearBridge is replacing Westfield Capital Management, which is being terminated due to underperformance, said city Comptroller Joshua A. Pothier in an email.

Westfield spokesman Matthew E. Fuchs could not be immediately reached for comment by press time.

UBS Institutional Consulting, investment consultant to the city’s pension plan, assisted with the hiring.