Curtiss-Wright Corp., Lyndhurst, N.J., hired Columbus Circle to run $30 million in active domestic large-cap growth equities for the $300 million pension plan, said Marc Ocasal, director of treasury. Funding came from the performance-based termination of Jennison Associates, which ran a similar portfolio, Mr. Ocasal said. Theresa Miller, spokeswoman for Jennison parent, Prudential, noted the firm was terminated in March, but said Jennison would not comment.
Separately, plan officials in the first quarter expect to hire two new active domestic large-cap value equity manager to run a combined $30 million, Mr. Ocasal said. Officials have selected three finalists and are considering hiring two of them, he said. He declined to name the finalists or the incumbent, which will be terminated for performance, he said. Evaluation Associates is assisting.