Lakeland Retirement picks international equity manager, commits to real estate

Lakeland (Fla.) Retirement System hired Thompson, Siegel & Walmsley to manage about $25 million in active international large-cap equities, said Cherie Watson-Matthews, city pension benefits specialist, in an e-mail.

Funding comes from the $500 million pension fund's termination of Manning & Napier, which ran a similar portfolio. Ms. Watson-Matthews cited performance and personnel changes as reasons for the termination. Nicole Kingsley Brunner, spokeswoman at Manning & Napier, was not available to provide comment by press time.

Separately, the pension fund committed $10 million each to private real estate funds managed by DSF Advisors and TerraCap Management. The pension fund's real estate target is 10%. As of June 30, the actual allocation was 6.4%.