Omaha (Neb.) Police and Fire Retirement System hired active international equity manager Lazard Asset Management and active domestic small-cap growth equity manager Palisade Capital Management to run about $30 million each, confirmed Sheri Larsen, management analyst for the city of Omaha's finance department.
The $538 million pension fund conducted an invitation-only search in the summer.
Other international equity finalists were EARNEST Partners, Thomas White International and WCM Investment Management; other domestic small-cap growth equity finalists were Nichols Asset Management and Peregrine Capital Management.
Funding comes from the terminations for performance of small-cap growth equity manager Fuller & Thaler Asset Management and international equity manager Philadelphia International Advisors.
G. Ed Stubbins, partner and director of marketing client relations at Fuller & Thaler, was not available to provide comment by press time, and Christine R. Sasse, director, consultant relations at PIA, did not return a phone call by press time.
Investment consultant DeMarche Associates assisted.