Santa Barbara County (Calif.) Employees' Retirement System hired Nichols Asset Management to run about $20 million in active domestic small-cap growth equities, said Eli Martinez, investment officer.
The $2.5 billion pension fund issued an RFP in February because of concerns with the performance of a similar portfolio managed by Eagle Asset Management. Eagle rebid for the services.
General investment consultant Meketa Investment Group assisted.
Separately, the pension fund hired Hamilton Lane as a specialist consultant for natural resources and infrastructure, replacing Meketa, which will continue as the pension fund's general investment consultant.
The pension fund has a 5% target allocation to natural resources and a 4% target to infrastructure.
The pension fund issued an RFP in March after David Altshuler, senior vice president and infrastructure practice leader at Meketa and the pension fund's lead infrastructure and natural resources consultant, left the firm.
Meketa and Wilshire Associates were finalists.
