Phoenix City Employees’ Retirement System named Artisan Partners and Harding Loevner as finalists in its invitation-only search for a manager to run about $125 million in active global growth equities, confirmed Greg Fitchet, investment manager.
The $2.2 billion pension fund is seeking a new global equity manager with a growth bias to complement the pension fund’s existing international value equity manager, Grantham Mayo van Otterloo, Mr. Fitchet said in a telephone interview.
Mr. Fitchet said the pension fund hopes to conduct interviews at its meeting in April. The timing might depend on the transition to Bank of New York Mellon as the pension fund’s new custodian, which is scheduled for May 1.
Funding will come from long-only equity managers. Mr. Fitchet said it is too early to tell whether managers will be terminated because funding for other invitation-only searches to be scheduled later this year would likely also come from long-only equity managers.
Invitation-only searches will also be conducted later in the year for hedge fund managers to run a total of $100 million, and real assets and private equity managers to run $60 million to $75 million each.
Investment consultant R.V. Kuhns & Associates is assisting.