Sarasota (Fla.) Firefighters’ Pension Fund hired Lazard Asset Management to run about $7 million in active international value equities, said Thomas D. Kelley, the city’s pension plans administrator, in an e-mail.
The $139 million pension fund conducted an invitation-only search following a March announcement that current manager Philadelphia International Advisors would be closing at the end of June.
The other finalist was Cambiar Investors.
Investment consultant Graystone Consulting assisted.