Franklin Regional Retirement System, Greenfield, Mass., hired Next Century Growth Investors to manage about $8 million in active domestic large-cap growth equities.
The $178 million pension fund's board approved the hiring at its May 31 meeting, said Kevin Condy, director of research at investment consultant Dahab Associates, which assisted with the search, in an email.
The pension fund issued an RFP in December to comply with requirements from the Massachusetts Public Employee Retirement Administration Commission that services be put up for bid every seven years.
Current manager Polen Capital Management was a finalist along with Putnam Investments.
