Phoenix City Employees Retirement System hired Boston Co. to manage $60 million in active domestic midcap value equities and Columbus Circle to manage $60 million in active domestic small-cap growth equities, said Rey G. Servin, analyst programmer III. The $1 billion pension plan funded the hire by terminating Nicholas-Applegate, which managed $120 million in active domestic small-cap growth and value equities, for performance. The current allocation is 60% equity and 40% fixed income. Becker Burke advised.
Rick Shaughnessy, head of communications for Nicholas-Applegate, did not return calls seeking comment by press time.