The Philadelphia Municipal Pension Fund short-listed Rorer Asset Management, Paradigm Asset Management, Provident Investment Advisors and Ark Asset Management in its search for a large-cap value manager, said David A. Volpe, first deputy controller for the $2.7 billion fund. The new manager will replace Sirach Capital Management, which was terminated last year.
Fund officials also are seeking to replace Atalanta/Sosnoff as a large-cap growth manager; the firm will be terminated once a new manager is hired. Fund officials interviewed Lincoln Capital Management, Rittenhouse Financial Services, Morgan Stanley Asset Management, Brown Capital Management, Montag & Caldwell and Tiffany Capital Advisers as possible replacements.
A new large-cap value and a new large-cap growth manager are expected to be chosen at the Dec. 5 investment committee meeting.