Ohio State Highway Patrol Retirement System, Columbus, hired Jennison Associates to run about $45 million in active domestic large-cap growth equities, said Dennis Smith, chief investment officer.
The $910 million pension fund conducted a shortlist search because the fund was looking to change its large-cap growth equity portfolio to a more focused strategy rather than the broader strategy used by current manager Wellington Management. Mr. Smith said Wellington's termination was solely due to that change and it was not performance-related.
The other finalist was T. Rowe Price Group.
Investment consultant Hartland & Co. assisted.
