Alameda County Employees' Retirement Association, Oakland, Calif., hired Aristotle Capital Management to run about $125 million in active domestic large-cap equities.
The $7.4 billion pension fund conducted a shortlist search due to performance concerns with current manager Pzena Investment Management.
Eagle Capital Management and Wellington Management were the other finalists, spokesman Michael Fara confirmed in an email.
Pzena spokeswoman Jessica Doran could not be immediately reached for comment.
As of March 31, the actual allocation to domestic equities was 26%; the target is 25%.
Investment consultant Verus Advisory assisted.