Austin (Texas) Police Retirement System hired Baird Investment Management and Seizert Capital Partners as active domestic midcap equity managers, wrote Sampson Jordan, CEO of the $615 million pension fund, in an e-mail.
Baird Investment and Seizert Capital will run $35 million to $40 million each in growth and value portfolios, respectively.
The pension fund is adding midcap managers “for further U.S. equity diversification,” Mr. Sampson had said previously.
The other finalist for the value allocation was Herndon Capital Management, and the other finalist for growth was Westfield Capital Management.
Funding will come from reducing large-cap value and growth equity strategies managed by Herndon Capital and Polen Capital, respectively, Mr. Sampson wrote.
The Bogdahn Group, the pension fund's consultant, conducted the invitation-only search.