Alexandria (Va.) Firefighters and Police Officers Pension Plan hired The London Co. to run $50 million in active domestic large-cap value equities, said Kevin Condy, research analyst at Dahab Associates, the $325 million pension fund's investment consultant.
The pension fund issued an RFP in April because it was considering switching its domestic large-cap value portfolio to an active strategy from passive. Vanguard Group, the incumbent passive manager, was invited to rebid but did not do so, Mr. Condy said.
The other finalists were Brandywine Global Investment Management and Eagle Capital Management.
