Cincinnati Retirement System hired Iridian Asset Management to run $90 million in active domestic midcap value equities, confirmed Don Beresford, city finance manager.
The $2.1 billion pension fund conducted an invitation-only search beginning in February. It is a new allocation and funding will come from rebalancing; no managers are scheduled to be terminated as a result.
The other finalist was Robeco Investment Management.
Investment consultant Marquette Associates assisted.