Phoenix City Employees' Retirement System hired Artisan Partners to run $128 million in active global growth equities, said Greg Fitchet, investment manager.
The $2.2 billion pension fund conducted an invitation-only search earlier this year for a global equity manager with a growth bias to complement the pension fund's existing international value equity manager, Grantham Mayo van Otterloo. The other finalist was Harding Loevner.
Funding comes from the termination of active domestic large-cap growth equity manager Cadence Capital Management. Mr. Fitchet said the termination was due to the pension fund's wish to expand its global focus.
Investment consultant R.V. Kuhns & Associates assisted.
