Aurora (Colo.) City General Employees' Retirement Plan will search for a domestic large-cap growth manager sometime in April and immediately afterward begin a search for a domestic fixed-income manager, said Thomas Connell, administrator for the $175 million fund. Portfolio size and funding source have not been determined.
Separately, the fund hired Ark Asset Management as its first core small-cap U.S. equity manager to run $12 million. Ark also runs a $40 million large-cap value portfolio.
The $12 million allocation comes from terminated manager NWQ Investment Management, which previously ran a $50 million balanced portfolio. The remaining $38 million will probably go into cash, said Mr. Connell.