Alameda County Employees' Retirement Association, Oakland, Calif., named four finalists in its search for an active domestic small-cap growth equity manager to run about $120 million, said Agnes Ducanes, administrative specialist, in an email.
The $8.1 billion pension fund named Granahan Investment Management, Pier Capital, Virtus Investment Partners and William Blair & Co. as finalists in the shortlist search, conducted due to the underperformance of current manager Next Century Growth Investors, which runs a similar portfolio. Next Century was included in the search. Kelly McNulty, Next Century's vice president, chief compliance officer and chief financial officer, could not be immediately reached for comment.
Finalists are scheduled to make presentations at the pension fund's Jan. 9 investment committee meeting.
Investment consultant Verus Advisory is assisting.