Fort Lauderdale (Fla.) General Employees' Retirement System hired Copeland Capital Management and Kayne Anderson Rudnick Investment Management to run $15 million each in active domestic small-cap growth equities, said Nick Schiess, retirement administrator.
The $602 million pension fund conducted a shortlist search for a replacement for Lord Abbett & Co., which manages about $30 million and is being terminated for performance. AMI Asset Management was also a finalist.
Officials at Lord Abbett could not be immediately reached to provide comment.
Investment consultant Dahab Associates assisted.