Miami-Dade Community College, Miami, is hiring two large-cap value domestic equity managers to handle $8 million each. The $135 million endowment already hired Brinson Partners and is negotiating a contract with another manager. They will replace Brandywine, which was terminated for performance-related reasons, said Mariela Gonzalez, assistant controller. Representatives from Brandywine did not return phone calls for comment by press time.
The college also is negotiating with its first small-cap domestic equity manager, which will handle $5 million. Funding will come from reducing a domestic growth equity portfolio managed by Brown Capital. The endowment is adding the new asset class to diversify its portfolio. Callan Associates assisted.
