Sioux Falls (S.D.) Retirement Systems hired Summit Creek Advisors to manage about $19 million in active domestic small-cap growth equities, recently released board meeting minutes said.
The $382 million pension fund conducted an invitation-only search for a manager to replace incumbent active domestic small-cap equity manager Columbia Management. The reason for the termination was not given.
The other finalist was Rice Hall James & Associates. Investment consultant The Bogdahn Group assisted.
Thomas Huber, assistant director-finance, did not return a phone call by press time.
