Pension Funds

Tulare County looking for U.S. large-cap growth manager

Tulare County Employees' Retirement Association, Visalia, Calif., is searching for an active domestic large-cap growth equity manager to run about $61 million, David J. Kehler, retirement administrator for the $1.3 billion plan, said in an email.

Its investment consultant, Verus, will conduct the shortlist search on behalf of the plan. Interested managers can contact Verus about the search, Mr. Kehler said.

The search is being conducted because its current manager, Ivy Investments, was put on watch due to the recent departure of its large-cap growth portfolio manager, Daniel Becker. Ivy will be invited to rebid.

Although there is no specific deadline set for completing the search, the board expects that Verus will provide them with a list of firms to consider for either the board's June 27 or July 25 meetings, Mr. Kehler said.

The plan had an allocation of 22.2% to domestic equities as of Dec. 31.