Fort Lauderdale (Fla.) Police & Firefighters' Retirement System hired Chatham Capital Group to run $10 million in active domestic small-cap core equities.
The $1.1 billion pension fund's board approved the hiring at its Sept. 13 meeting, said spokesman Fred Nesbitt.
The pension fund added the manager to get active exposure in small-cap core equities, said Nesbitt. Funding comes from a reduction in a passive domestic small-cap core equity portfolio managed by RhumbLine Advisers, leaving it with about $16 million.
As of March 31, the actual allocation to domestic equities was 33.3%; the target is 30%.
Investment consultant CAPTRUST Financial Advisors assisted.
