West Palm Beach (Fla.) Police Pension Fund hired Wellington Management to run about $14 million in active domestic small-cap equities, said a posting on the pension fund’s website.
The $271 million pension fund conducted an invitation-only search earlier this year to find a replacement for GW Capital, which ran a similar portfolio and announced in January it would be shutting down effective March 31.
The other finalist was Integrity Asset Management.
Investment consultant Thistle Asset Consulting assisted.
Dave Williams, plan administrator, and John McCann, senior consultant at Thistle, did not reply to requests for further information by press time.