Lycoming County Employees' Retirement System, Williamsport, Pa., hired Brandywine Global Investment Management, Loomis Sayles & Co. and O'Shaughnessy Asset Management, to run a total of about $35 million in active domestic large-cap equities, confirmed Seth Lynn Jr., senior consultant at Dahab Associates, investment consultant to the $85 million pension fund.
Brandywine and O'Shaughnessy will run about $11.5 million and $6 million, respectively, in value, and Loomis Sayles will run about $17.5 million in growth. Exact amounts are pending contract negotiations.
The firms replace C.S. McKee and Garcia Hamilton Associates, which split the large-cap portfolio evenly, running about $17.5 million each. C.S. McKee ran value as part of a balanced portfolio, and Garcia Hamilton ran growth. Both firms rebid for the services.
Also, the pension fund rehired C.S. McKee and McDonnell Investment Management to run the pension fund's $21 million active domestic fixed-income portfolio.
The pension fund issued RFPs for large-cap equity and fixed-income managers in March as part of due diligence, Mr. Lynn said. There were no finalist interviews.