Newport, R.I., hired TAMRO Capital Partners to run about $7 million in active domestic small-cap core equity, confirmed Steven Roth, director of manager research at Dahab Associates, investment consultant for the plan.
RBC Global Asset Management and GW&K Investment Management were also finalists.
Funding is coming from rebalancing; no managers were terminated. The allocation will be split among the city's $85 million pension fund, $25 million other post-employment benefits fund and $10 million scholarship fund.
An RFP was issued in March.