Miramar (Fla.) Firefighters’ Pension Fund hired PNC Capital Advisors to manage about $5 million in active domestic small-cap core equities, said William Dahab, principal and director of research at Dahab Associates, the $99 million pension fund’s investment consultant.
Miramar Firefighters issued an RFP in April to further diversify the fund.
Funding comes from reducing the smidcap allocation, which is split between Lee Munder Capital Group and Northern Trust Asset Management. Mr. Dahab did not have asset sizes of the portfolios available.
Other finalists were Dimensional Fund Advisors and RBC Global Asset Management.
