Memphis Light, Gas & Water Division, Memphis, Tenn., hired active domestic small-cap growth equity managers LMCG Investments and StoneRidge Investment Partners to manage $38 million and $10 million, respectively, recently released pension board meeting minutes said.
The $1.4 billion pension fund conducted an invitation-only search earlier this year based on the recommendation of investment consultant Gavion to add small-cap growth to the pension fund’s portfolio.
Funding comes from reducing the portfolios of managers Channing Capital Management and EARNEST Partners to $24 million each.
Tamara Nolen, spokeswoman, did not have further information by press time.
