District of Columbia Retirement Board, Washington, is choosing finalists in a shortlist search for two active domestic small-cap equity managers, one growth and one value, to run an undetermined amount, said Sheila Morgan-Johnson, CIO. The $2.6 billion system currently has no managers running exclusively small-cap equities, but it does have firms investing in small-cap to midcap equities, she said. Funding will come from reducing the portfolios of other equity managers. Finalists will be interviewed April 13.
Separately, Brown Capital Management was hired to run $80 million in active domestic midcap growth equities. Funding came from cash.
Watson Wyatt assisted.