Laredo (Texas) Firefighters' Retirement System hired Loomis Sayles & Co. to manage about $9.1 million in domestic large-cap growth equity and LMCG Investments to run about $6.1 million in small-cap value equity, said recently released board meeting minutes.
Funding for Loomis Sayles will come from the liquidation of a BlackRock iShares S&P 100 index strategy. Following the termination of domestic large-cap equity manager Bahl & Gaynor last year, the $9.1 million in assets were temporarily transferred to BlackRock.
Funding for LMCG will come from the termination of a $6.1 million smidcap value equity portfolio managed by Cramer Rosenthal McGlynn due to performance concerns. CRM was put on watch for performance earlier this year. A CRM official could not immediately be reached for comment.
The meeting was Aug. 18. Jaime Jasso, administrator of the $124 million pension fund, could not immediately be reached for additional information.