Ormond Beach (Fla.) General, Police & Fire Pension Plans hired Apex Capital Management to run $5 million in active domestic smidcap growth equities, said Kelly A. McGuire, the city’s finance director.
The pension funds, which have a combined $85 million in assets, conducted an invitation-only search due to current domestic smidcap growth equity manager Perimeter Capital Management discontinuing its strategy, Ms. McGuire said in an e-mail.
Oak Ridge Investments was the other finalist.
Investment consultant Graystone Consulting assisted.
