Oakland County Employees' Retirement System, Waterford, Mich., hired Loomis Sayles to run $38 million in active domestic small-cap growth equities, confirmed Judy D. Fandale, retirement administrator of the $1.7 billion pension fund.
Loomis Sayles replaces NorthPointe Capital, which was terminated in February for performance and ran the money in a similar strategy. Other finalists were Cortina Asset Management and Cupps Capital Management.
The retirement system also hired Wells Capital Management as its first active emerging markets equity manager, running $33 million. Funding will come from rebalancing within the international equity portfolio, according to Ms. Fandale.
Other finalists were Brandes Investment Partners, Vontobel Asset Management and Wasatch Advisors.
Asset Consulting Group assisted in both shortlist searches.
