East Bay Municipal Utility District Employees Retirement System, Oakland, Calif., hired TCW to manage $25 million in active domestic small-cap value equities and Mazama Capital Management to run $25 million in active domestic small-cap growth equities, said Lloyd Sawchuk, treasury manager for the $600 million plan.
Funding comes from a $33 million active domestic small-cap value equity portfolio run by Crabbe Huson Group, which was terminated for performance and personnel changes. The remainder will come from reducing to $33 million a passive S&P 400 portfolio managed by Northern Trust. That allocation was $50 million.
A spokeswoman at Crabbe Huson said the firm would not comment on the termination.