South Carolina Budget and Control Board, Columbia, named Bear Stearns...

South Carolina Budget and Control Board, Columbia, named Bear Stearns, Numeric Investors, Nicholas-Applegate and Batterymarch as finalists in its search for two active domestic small-cap growth equity managers for the $24 billion South Carolina Retirement System. The size of the portfolios has not been determined. Funding will come from cash parked in a Russell 2000 fund run by State Street Global Advisors. The board will interview the finalists on Sept. 22 and make a selection that day, said Michael Sponhour, spokesman. The system launched the search in February after a review of its $1.67 billion in small-cap equity investments, Mr. Sponhour said. Mercer Investment Consulting is assisting.