Tallahassee (Fla.) Pension Plan hired active domestic midcap value equity manager Iridian Asset Management and active domestic small-cap growth equity manager Emerald Advisers to run $80 million each, said Kent Olson, the city’s deputy treasurer-clerk.
The $1.5 billion pension fund conducted an invitation-only search due to the termination for performance of midcap value manager Systematic Financial Management and small-cap growth manager Cadence Capital Management.
Other finalists were LSV Asset Management for the midcap value search and Janus Capital Group and Peregrine Capital Management for the small-cap growth search.
Kevin McCreesh, Systematic’s chief investment officer, did not return a phone call by press time, and Michael J. Skillman, Cadence’s CEO and managing director, declined to comment.
Investment consultant Segal Rogerscasey assisted.