Carpenter Technology Corp., Reading, Pa., hired three small-cap equity managers, said Walter L. Pease, assistant treasurer.
The $760 million pension fund hired Emerald Advisers, which specializes in growth; BlackRock, value; and Mellon Equity Associates, both.
The amount of funding for each manager hasn't been decided yet; in total for the three it could be $25 million.
Funding will come from reallocation.
The search was conducted in-house.
