Lauderhill (Fla.) Firefighters' Retirement System, Palatka, Fla., hired Chatham Capital Group to run $7 million in active domestic small-cap core equities, said Kevin Condy, research analyst at Dahab Associates, the $82 million pension fund's investment consultant.
The pension fund issued an RFP in March for small-cap and midcap managers to split a total of $14 million. The other small-cap finalists were ClearBridge Investments and GW&K Investment Management, Mr. Condy said. The pension fund hired EARNEST Partners to run the midcap portfolio in June.
Plan administrator Barbara White said at that time that the pension fund's board wanted to split an existing active domestic smidcap equity portfolio into separate small-cap and midcap portfolios because the pension fund is growing. Funding comes from terminating smidcap manager Loomis Sayles & Co., which Ms. White had said could not split the portfolio.