Radnor Capital Management will introduce a new small-cap strategy run by Douglas Pyle, one of the former partners of Cashman Farrell & Associates. The new strategy will invest primarily in established companies with market capitalizations of less than $1 billion using same bottom-up low-p/e discipline as in Radnor's all-cap portfolios, said Mr. Pyle. He estimated the average market cap of the companies will be around $500 million. The product will be available in June, and Mr. Pyle will join the firm in April. The partners of Cashman, Farrell voted to dissolve the firm.