City of Baltimore Employees Retirement System hired Chicago Equity Partners and Turner Investment Partners to run $45.8 million each in large-cap growth equities, and TimesSquare Capital to run $33 million in midcap equities, according to Roselyn H. Spencer, executive director of the $1.3 billion fund.
Funding for the large-cap portfolio came from terminating incumbent TCW Group and a re-evaluation of the systems equity allocation, Ms. Spencer said. Funding for the midcap portfolio came from terminating incumbent J&W Seligman. Ms. Spencer said both were terminated for performance.
Kevin Danaher, spokesman for J&W Seligman, did not return calls requesting comment by deadline; Michael Utley, a spokesman for TCW, said the firm doesnt comment on client-related matters.
The invitation-only searches were conducted by Callan Associates.