Lycoming County Employees’ Retirement System, Williamsport, Pa., hired SouthernSun Asset Management to run $11 million in active domestic smidcap core equities and Johnston Asset Management to run $7.5 million in active international core equities, confirmed Krista Rogers, county controller.
The $79 million pension fund issued RFPs in July. Other finalists were Pyramis Global Advisors for the domestic smidcap search and Aberdeen Asset Management for the international search. They are new allocations, and funding comes from rebalancing.
The searches were the result of an asset allocation study by investment consultant Dahab Associates, which the pension fund hired in February. Dahab replaced Merrill Lynch, which no longer consults for public retirement funds.