Clearwater (Fla.) Employees Pension Fund hired Boston Partners to run up to $45 million in active domestic midcap value equities.
The $1.1 billion pension fund's board approved the hiring at its Feb. 18 meeting, said Jay Ravins, the city's finance director, in an email.
Funding comes from the termination of active domestic midcap value equity manager WEDGE Capital Management for performance reasons.
Officials at WEDGE Capital could not be immediately reached for comment.
As of Sept. 30, the actual allocation to domestic equities was 40.2%; the target is 39%.
Investment consultant CAPTRUST Financial Advisors assisted.
