Gainesville (Fla.) Police Officers’ & Firefighters’ Pension Plan is conducting a shortlist search for a manager to run $18 million in either passive or active domestic large-cap value equities, said Kenneth Bess, pension investment analyst. Partial funding will likely come from terminating The Boston Co. as manager of $9 million in active domestic large-cap value equities for performance and because the manager is too growth-oriented, Mr. Bess said, adding that there is a possibility that the manager will be retained. The remaining $9 million will come from pension obligation bond proceeds.
Consultant Summit Strategies will present a list of five or six managers to officials of the $107 million fund in late June, and a selection is expected by the end of September, he said.
Richard Watson, marketing director at The Boston Co., did not return calls seeking comment by press time.