Holyoke (Mass.) Contributory Retirement System hired one active U.S. large-cap growth equity manager to run about $25 million and three active U.S. large-cap value managers to run about $8 million each, said Cheryl A. Dugre, executive director of the $288 million pension fund.
The board rehired BlackRock (BLK) as its growth equity manager and Seizert Capital Partners as one of its value managers. It also hired Aristotle Capital Management and Cooke & Bieler as its other two value managers.
The pension fund terminated incumbent growth equity manager Brandywine Global Investment Management, which ran about $12 million for the plan, for performance issues. A Brandywine spokesman could not be reached for comment.
The search was launched in April to comply with state law, Ms. Dugre said.
The pension fund has a 31% allocation to domestic equities, with 19% allocated to large cap.