Pinellas Park (Fla.) General Employees’ Pension Fund hired Garcia Hamilton & Associates to run an $8 million active domestic fixed-income portfolio, according to recently released board meeting minutes e-mailed by Cheryl Laser, the city’s senior human resources analyst.
The $73 million pension fund conducted an invitation-only search in March for a manager to complement existing fixed-income manager Sawgrass Asset Management; funding comes from Sawgrass’ portfolio, leaving it with $8 million.
Richmond Capital Management was the other finalist.
Investment consultant The Bogdahn Group assisted.
