Searches and Hires

Fort Lauderdale General Employees taps EARNEST for midcap value equity

Fort Lauderdale (Fla.) General Employees' Retirement System hired EARNEST Partners to run about $40 million in active domestic midcap value equities, said Nick Schiess, retirement administrator.

The $687 million pension fund issued an RFP in October for due diligence purposes; incumbent manager Lord Abbett & Co. was invited to rebid.

Other finalists were Fisher Investments and Smith Graham & Co. Investment Advisors. Mr. Schiess did not know whether Lord Abbett rebid.

As of Sept. 30, the allocation to domestic value equities was 22.5%.

Investment consultant Dahab Associates assisted.