Boca Raton (Fla.) Police & Firefighters' Retirement System hired Cortina Asset Management and Mutual of America Capital Management to run about $14 million each in active domestic small-cap equities, confirmed Nadine Josephs, interim plan administrator.
Cortina will run growth, and Mutual of America will run value for the $283 million pension fund. Funding comes from the termination of active domestic small-cap equity manager IronBridge Capital Management, which ran about $28 million. Ms. Josephs did not know the reason for the termination.
Investment consultant Asset Consulting Group assisted.