Philadelphia Public Employees' Retirement System hired Capital...

Philadelphia Public Employees' Retirement System hired Capital Prospects to manage $60 million in its emerging manager-of-managers program, said Erin Davis, an investment officer with the $3.8 billion fund. Capital replaces Fiduciary Investment Solutions, which resigned after it was appointed investment consultant for the system. The board also voted to renew the contract of PSM Advisors, which also manages $60 million in the emerging manager-of-managers program.