Lakeland (Fla.) Employees' Pension and Retirement System hired Lee Munder Capital Group and WCM Investment Management to run $26.5 million each in active international equities, confirmed Dana Blydenburgh, city director of retirement services.
The $498 million pension fund also made commitments to real estate funds managed by Dune Real Estate Partners and Landmark Realty Advisors to run $12.5 million each.
Partial funding comes from the termination for performance of Baring Asset Management, which ran $39 million in active international equities, and the reduction of J.P. Morgan Asset Management's real estate portfolio to $14.5 million from $29 million. Other funding sources could not be learned by press time.
Baring Asset spokeswoman Peg Donnelly declined to comment.
Investment consultant The Bogdahn Group assisted.