Fort Lauderdale (Fla.) Police & Firefighters' Retirement System hired Westfield Capital Management to run about $22 million in active domestic small-cap growth equities.
The $1.1 billion pension fund's board approved the hiring at its meeting Wednesday, spokesman Fred Nesbitt said in an email.
Funding comes from the termination of Eagle Asset Management, which ran a similar portfolio, due to changes in the management and leadership of the manager's small-cap strategy, Mr. Nesbitt said.
As of March 31, the pension fund's actual allocation to domestic equities was 33.3%; the target is 30%.
Investment consultant CAPTRUST Financial Advisors assisted.
