Officials of the Pinellas Park (Fla.) Firefighters' Pension Plan are considering replacing PEA Capital, a PIMCO group unit that runs a $3.8 million active domestic large-cap growth equity portfolio for the $25 million plan, for performance and organizational reasons, said Denise Cowdrick, pension specialist. Consultant Merrill Lynch assembled a list of possible replacements and presented it to the pension board, which could decide later this month or in January whether to select a replacement. She would not say which firms are being considered. There is a "remote possibility" that PEA Capital could be retained, Ms. Cowdrick said.
Phil Neugebauer, PIMCO spokesman, did not return a call seeking comment by press time.