Knoxville (Tenn.) City Employees Pension Fund selected three finalists to manage $35 million in active domestic small-cap growth equities, confirmed Michael Cherry, executive director of the $540 million fund. They are Columbia Partners, Pier Capital and Pinnacle Associates. Funding comes from an SSgA Russell 2000 growth index fund, where the money had been parked after the fund terminated Cortina Asset Management, which was running the small-cap growth allocation. Cortina was terminated when founder and CEO Joseph Frohna left the company in February, Mr. Cherry said. Fund officials are expected to choose a firm at the June 14 board meeting.
Summit Strategies assisted in the invitation-only search.