St. Louis County Retirement Plan, Clayton, Mo., recommended hiring Granite Investment Partners and The London Co. to run $16.8 million each in active domestic smidcap equities, said Kirk McCarley, plan administrator at the $589 million pension fund.
The hires are contingent upon final approval from the St. Louis County Council, Mr. McCarley said in a telephone interview. A timetable for approval has yet to be determined.
The invitation-only search came as a result of the termination for performance of IronBridge Capital Management, which ran a similar portfolio worth $33.6 million. Ron Hetzel, director, client services, did not return a phone call seeking comment by press time.
Fuller & Thaler Asset Management was the other finalist.
Investment consultant Summit Strategies Group assisted.