Milwaukee City Employes' Retirement System named Brown Advisory, CastleArk Management, Geneva Capital Management and ING Investment Management as finalists in a search for a U.S. small-cap growth equity manager to run a total of $90 million, according to Bernard J. “Jerry” Allen, executive director.
The intention is to hire one manager, said David Silber, acting chief investment officer.
The $4.6 billion pension fund plans to disclose the hiring as soon as contract negotiations are completed, Mr. Silber said. A time frame for completion wasn't set.
Funding will come from a Russell 2000 growth index fund managed by Northern Trust Asset Management, where the pension fund invested the money after terminating Allianz Global Investors, which had run the portfolio. AGI was terminated for organizational issues.
Callan Associates, the pension fund's investment consultant, is assisting with the changes.