Pensacola (Fla.) Firefighters’ Relief and Pension Fund hired Sawgrass Asset Management to run $9 million in active domestic large-cap growth equities, said Cheryl Jackson, the city’s payroll and pension manager.
The $113 million pension fund conducted an invitation-only search due to the termination for performance of existing manager Garcia Hamilton & Associates, which ran a similar portfolio. Gilbert A. Garcia, the manager’s chief investment officer, did not return a phone call seeking comment by press time.
Garcia Hamilton was recently hired to run a $9.5 million active domestic fixed-income portfolio for the pension fund.
Investment consultant Burgess Chambers & Associates assisted.