Metropolitan St. Louis Sewer District Employees' Pension Plan hired PENN Capital Management to run $7.5 million in active domesticFidelity Investmentsnd Fidelity Investments to manage a $7.5 million market-neutral equity hedge fund portfolio, said Karl Tyminski, secretary-treasurer of the sewer district. Both strategies are new for the $152 million plan, and funding came from a general trimming of other asset classes. No managers were terminated.
New England Pension Consultants assisted with the shortlist searches.
Separately, plan officials are considering finalists in a shortlist search for a real estate manager to run $7.5 million to $8 million in a closed-end fund, Mr. Tyminski said. He declined to name firms under consideration but noted that plan officials will likely make a selection by the end of the third quarter.