Clearwater (Fla.) Employees Pension Fund may search for a core fixed-income manager to run $40 million, said Stephen Moskun, cash and investment manager. Funding would come from rebalancing, with no manager terminations, he said. The $413 million plans current core fixed-income managers are Sirach Capital, which runs $59 million, and Vanderbilt Capital, $65 million, Mr. Moskun said. A decision on whether to search for a third manager is expected by early July.
Separately, the plan named Atlanta Capital, Systematic Financial and Ark Asset as finalists in its search for an active domestic small-cap value equity manager to run $30 million to $50 million, said Mr. Moskun. A selection is expected at the June 9 trustees meeting. Ark already manages $39 million in active domestic large-cap value equities for the plan. Funding will come from rebalancing; no managers will be terminated, he said.
Callan Associates is consultant.