Fort Lauderdale (Fla.) Police & Fire Retirement System hired Vaughan Nelson Investment Management to run $28 million in active domestic small-cap value equities, said Fred Nesbitt, director of public information.
The $822 million pension fund began an invitation-only search in December following the October termination of Lee Munder Capital Group for performance. Greg Mulready, Lee Munder's director of sales and marketing, declined to comment at the time.
The assets are temporarily parked in an existing RhumbLine Advisers domestic midcap equity index fund, which has about $77 million in plan assets.
Investment consultant CapTrust Advisors assisted.