Miami General Employees' & Sanitation Employees' Retirement Trust, Coconut Grove, Fla., hired Garcia Hamilton & Associates to run a $37 million active domestic intermediate-term fixed-income portfolio, said Edgard Hernandez, pension administrator.
The $645 million pension fund conducted an invitation-only search for a manager to replace Chicago Equity Partners, which is being terminated for underperformance. Other finalists were Atalanta Sosnoff Capital, Fort Washington Investment Advisors and National Investment Services. Officials at Chicago Equity Partners could not be immediately reached to provide comment.
Investment consultant Southeastern Advisory Services assisted.