City of Tampa (Fla.) General Employees' Retirement Fund narrowed its search for its first large-cap core equity manager to three finalists and is expected to make a final decision at its Nov. 17 board meeting, said Paul Broughton, administrator for the $440 million fund.
The finalists are: Bank of America; Fidelity Management Trust; and Goldman, Sachs.
Diversification is the reason for the search.
Portfolio size is undetermined. Funding will come from reducing the portfolios of INVESCO, which runs $100 million in large-cap value, and Sirach Capital, with $100 million invested in large-cap growth.