Sterling Heights (Mich.) Police and Fire Retirement System selected four finalists in its search for a large-cap value domestic equity manager to run $35 million for its $180 million defined benefit plan, said Rick Sanborn, treasurer. They are: Armstrong Shaw; Davis Selected; GE Investments; and Todd Investment Advisors. Merrill Lynch is assisting.
Separately, the Sterling Heights General Employees’ Retirement System is about to begin a search for a large-cap value domestic equity manager to handle between $15 million and $20 million for the $80 million defined benefit plan, said Mr. Sanborn. The search was undertaken because the system has become concerned with incumbent manager Loomis Sayles’ performance, he said.
A spokeswoman for Loomis Sayles declined to comment.
