Anchorage (Alaska) Police and Fire Retirement System hired Delaware Investments to run about $14 million in active domestic small-cap core equity, said Edward Jarvis, director.
Callan Associates, the pension fund's investment consultant, conducted a shortlist search earlier this year following the July termination of Columbia Management Investment Advisers, which managed a $14 million active domestic small-cap growth equity strategy.
The other finalists were Dimensional Fund Advisors and RBC Global Asset Management.
Funding for Delaware Investments will come from Columbia, which was terminated for underperformance. Ryan Lund, spokesman for Columbia Management, declined comment following the termination.
The $347 million pension fund has a 4% target allocation to domestic small-cap equity.
