New Haven (Conn.) Police & Firemen's Retirement Fund hired Rittenhouse to replace Bond Procope Capital Management to handle an $18 million large-cap growth portfolio, said Gregory Brown, city comptroller for the $240 million plan.
Mr. Brown said Bond Procope was terminated for performance reasons.
Alan Bond, CIO for Bond Procope, said their performance was right on target. Mr. Bond also said the firm remains competitive.