Gwinnett County Employees' Retirement System, Lawrenceville, Ga., hired Brown Advisory to run an active domestic midcap growth equity portfolio.
The $1 billion pension fund's board approved the hiring at its Feb. 25 meeting, recently released meeting minutes show.
The pension fund conducted a shortlist search. Ivy Investments and Wells Fargo Asset Management were the other finalists.
The reason for the search was not provided. In May 2017, the pension fund terminated William Blair & Co. from a $32 million midcap growth equity portfolio; $25 million was moved to cash to pay benefit obligations and the remainder was reallocated to other managers.
The amount of the new portfolio and whether another midcap growth equity manager had replaced William Blair before the hiring of Brown Advisory was not immediately known.
Investment consultant UBS assisted.
System officials could not be immediately reached for further information.
