West Palm Beach (Fla.) Police Pension Fund hired BRC Investment Management to run $22 million in active domestic large-cap value equities, according to recently released board meeting minutes.
The $229 million pension fund's investment consultant, Thistle Asset Consulting, recommended May 10 a shortlist of managers to make presentations following the announcement of returns from its current large-cap value manager EARNEST Partners.
Trey Greer, partner at EARNEST Partners, did not return a phone call for comment by press time.
Other finalists at the June 14 meeting were Ceredex Value Advisors and Logan Capital Management.
Phone calls to Ed Mitchell, chairman of the board of trustees and city administrator, and John McCann, founder of Thistle Asset Consulting, were not returned by press time.