The Southbridge (Mass.) Retirement Board hired Independence Investment to run $2 million in active domestic small-cap core equities, confirmed Mary E. St. Germain, administrator. Funding will come from Dreyfus, which was terminated earlier this year.
Officials for the $20 million pension fund also expect to pick an open-end private real estate manager at the July 27 board meeting to handle about $2 million, Ms. St. Germain said. The search for a real estate manager was prompted by a shift to an open-end portfolio from a REIT run by INVESCO.
Segal Advisors assisted.