Jacksonville (Fla.) Police & Fire Pension Fund hired Loomis Sayles & Co. to manage $85 million in active domestic large-cap growth equities, said a recently released board meeting summary.
The $1.8 billion pension fund conducted a shortlist search for a manager to potentially replace Brown Advisory due to underperformance.
A Brown Advisory spokeswoman declined to comment.
The other finalists were HS Management Partners and Sustainable Growth Advisors.
Investment consultant Summit Strategies Group assisted.
Timothy Johnson, executive director, could not be immediately reached to provide further information.