Dearborn Heights (Mich.) Employee Pension System narrowed to six firms a search for its first small-cap growth U.S. equity manager, to mange $4 million for its $103 million police and fire defined benefit plan, said John Riley II, executive director. Semi-finalists are Fleming Capital, Munder Capital, Navellier, J.&W. Seligman, Stratton Management and Standish, Ayer & Wood. The board is expected to narrow the list to three finalists by September. A decision is expected by October.
Separately, Navellier was hired as the $35 million general government funds first domestic small-cap growth manager. Funding for the $2 million allocation came from withdrawing from the J.&W. Seligman Frontier fund.