Hollywood (Fla.) Police Officers' Retirement System hired Crawford Investment Counsel to run about $14 million in active domestic small-cap equities.
The $302 million pension fund's board hired the manager to complement current active domestic small-cap equity manager Eagle Asset Management, said John McCann, senior consultant at AndCo Consulting, the fund's investment consultant.
Eagle Asset Management's portfolio, previously $28 million, was split in half to accommodate the change.
As of June 30, the pension fund's actual allocation to equities was 62.2%; the target is 60%.
AndCo Consulting assisted.