Maryland-National Capital Park and Planning Commission Employees Retirement System, Riverdale, hired T. Rowe Price to manage $40 million in active domestic large-cap growth equities, said Ed Navarre, administrator. The $465 million system also named Legg Mason Capital Management, Alliance Bernstein and Osprey Partners as finalists in its search for an active domestic large-cap value equity manager to run $40 million. A selection is expected at the systems May 7 board meeting.
Funding for the portfolios, both new asset classes resulting from an asset allocation study last year, will come from reducing allocations to fixed income managers Goldman Sachs Asset Management and Western Asset, which currently manage $46 million and $93 million, respectively. The board will decide May 7 on the amount of the reductions to each portfolio.
Wilshire Associates is assisting.