Santa Barbara County (Calif.) Employees’ Retirement System hired Rice Hall James & Associates to run $18 million in active domestic small-cap growth equities, said Lauren Thompson, retirement investment analyst.
The $2.5 billion pension fund conducted an invitation-only search for a manager to replace Nichols Asset Management, which informed the pension fund it would no longer be managing assets, Ms. Thompson said.
Westfield Capital Management was the other finalist. Investment consultant Meketa Investment Group assisted.
Separately, the pension fund will be interviewing finalists in its general investment consultant search at a special board meeting on Friday. The pension fund issued an RFP in December due to the pending expiration of Meketa’s contract in January 2017. Meketa is a finalist, along with NEPC, RVK and Verus Advisory. A decision is expected shortly after the presentations.