Falmouth (Mass.) Contributory Retirement System hired Earnest Partners to manage $6.8 million in active domestic core small-cap equities and Harbor Capital to run $7.6 million in active domestic core midcap to large-cap growth equities, said Margaret Corellis, administrator for the $49 million system.
Falmouth also hopes to pick its first private equity manager, to which it will commit $1.5 million, at its March board meeting. Finalists are Auda Ventures, Thomas Weisel Partners and INVESCO. The moves were made for diversification, Ms. Corellis said. Funding will come from paring the allocation to Cutler, which manages $29 million in a balanced portfolio. Wainwright Investment Counsel assisted.
