The $1.1 billion Educational Employees' Supplementary Retirement System of Fairfax County, Springfield, Va., picked four finalists in its search for a second domestic small-cap stock manager, said Deidra McLaughlin, treasurer. The four are Thomson Horstmann and Bryant; Greenville Capital Management; Pilgrim Baxter and Associates; and Crabbe Huson. Trustees will make their selection at the Aug. 2 board meeting.
The fund already has 3% of its assets with Kennedy Capital Management; the study recommended the fund eventually have 10% of assets in small-cap stocks. Funding will come from reducing Oppenheimer Capital's large-cap portfolio and from cash.