Alexandria (Va.) Firefighters and Police Officers Pension Plan hired Acadian Asset Management to manage an active international small-cap equity portfolio.
The $400 million pension fund's board approved the hiring at its June 8 meeting, recently released meeting minutes show.
The pension fund issued an RFP in May for its first international small-cap equity manager. At that time, the portfolio size had yet to be determined. Kevin Condy, director of research at investment consultant Dahab Associates, which assisted with the search, said at the time that funding would come from would come from reductions in the other international equity managers' portfolios. He could not be immediately reached for further information.
The other finalists were Copeland Capital Management and Putnam Investments.