City of Tampa (Fla.) General Employees Retirement Fund is choosing finalists in its search to replace $90 million domestic growth equity manager Sirach Capital Management. The board for the $550 million defined benefit plan is "looking for better performance, said Andrew Hirsch, chairman. Representatives from Sirach did not return calls for comment by press time. A decision is expected in March. Mercer is assisting.
Separately, as a result of a recent asset allocation study, the fund is considering adding real estate for the first time in seven years and international equity. No schedules have been set for searches. Funding for the new managers likely will come from the funds equity managers, said Mr. Hirsch.