Retirement Board of Allegheny County, Pittsburgh, is considering a search for a large-cap value U.S. equity manager, said Cheryl Bateman, executive director for the $650 million fund.
Sasco, the previous large-cap manager, was terminated for performance reasons, and the $36 million it managed will be reallocated to others she declined to name. There is no timetable for the decision.
Bruce Bottomley, managing director for Sasco, did not return phone calls by press time.
Separately, the fund expects to narrow a search for a full-retainer consultant to finalists by April. Ms. Bateman said the search was prompted because the fund wanted to explore its options. Incumbent Kalson & Associates rebid.
A final decision is expected by May.
