Fort Lauderdale (Fla.) Police and Firefighters' Retirement System hired William Blair & Co. to run about $35 million in active domestic large-cap growth equities, spokesman Fred Nesbitt said in an email.
The $1.1 billion pension fund conducted a search following the termination of Sawgrass Asset Management, which ran a similar portfolio. The assets have been parked in a large-cap growth index fund managed by RhumbLine Advisers.
Sawgrass was terminated for performance reasons, Mr. Nesbitt said in an earlier email. Brian Monroe, Sawgrass co-founding principal and director of marketing and client service, said in a phone interview, "We've had the honor and pleasure of working for them over a decade, and we've seen it as a profitable and beneficial relationship."
Mr. Monroe said he understands clients want to make changes from time to time, and "we respect that process and we look to the police and firefighters' plan as a prospect to work with in the future."
American Century Investments was the other finalist.
Investment consultant CAPTRUST Financial Advisors assisted.
