Westmoreland County Employees' Retirement System, Greensburg, Pa., hired Stewart Capital Advisors and TWIN Capital Management to run $5 million each in enhanced indexed domestic equities, confirmed Jeffrey Balzer, county controller.
Stewart will run midcap value; TWIN will run large-cap core.
The hires are part of the $372 million pension fund's efforts to expand into midcap equities and enhanced indexed strategies, Mr. Balzer said. Funding will come from rebalancing; no managers will be terminated.
Investment consultant Gallagher Fiduciary Advisors assisted.