Dauphin County Retirement System, Harrisburg, Pa., hired RRZ Investment Management to run $15 million in active domestic large-cap core equities; Emerald Advisers, $10 million in active domestic small-cap core equities; PNC, $10 million in an active domestic large-cap growth equity mutual fund; and Valley Forge Asset Management and The Swarthmore Group, $15 million and $5 million, respectively, in active domestic fixed income.
Marie Rebuck, controller, said the hires were funded from terminating the balanced portfolio in which C.S. McKee Management had managed all of the systems $121 million in assets. C.S. McKee now runs a total of $66 million in an active international all-cap core equity fund and a balanced portfolio.
The hirings were made for diversification, Ms. Rebuck said.