South Carolina Budget and Control Board, Columbia, terminated Suffolk Capital Management, which ran $173.2 million in active domestic small-cap growth equities for the $21 billion South Carolina Retirement System, said Michael Sponhour, spokesman. Suffolk was dropped for performance, Mr. Sponhour said. An invitation-only search is under way for a transition manager to run the money in a Russell 2000 index fund until a replacement for Suffolk can be found. Mercer Investment Consulting is assisting.
Erich G. Weissenberger, principal, said Suffolk doesn't comment on client matters.