Milwaukee City Employes' Retirement System hired CastleArk Management to manage $90 million in active U.S. small-cap growth equity, said Bernard J. “Jerry” Allen, executive director of the $4.6 billion pension fund.
Funding will come from a Russell 2000 growth index fund managed by Northern Trust Asset Management.
The pension fund temporarily invested the money with Northern Trust after terminating Allianz Global Investors, which had run the portfolio. AGI was terminated last April for organizational issues.
Callan Associates, the pension fund's investment consultant, assisted in the search.
