Georgia Peace Officers' Annuity and Benefit Fund, Griffin, hired Sawgrass Asset Management to run $7 million in an active domestic small-cap growth equity portfolio, said Robert W. Carter, secretary/treasurer.
The $800 million pension fund conducted a shortlist search for its first small-cap manager to increase diversification. Funding comes from rebalancing; no managers are being terminated.
Other finalists were AMI Asset Management and RBC Global Asset Management. Investment consultant Graystone Consulting assisted.