Fort Lauderdale (Fla.) General Employees' Retirement System is searching for a manager to run a $12 million active domestic small-cap or "smid"-cap growth equity portfolio, said Dave Desmond, administrator. It is a new allocation for the $280 million pension fund; the board is seeking to further diversify the system's investments. The board will likely select finalists at its January meeting, tentatively scheduled for Jan. 6, and name a manager at a February meeting, tentatively slated for Feb. 3.
Funding will come from a reduction to one equity manager's portfolio; Mr. Desmond declined to name the firm.
