Manchester (N.H.) Employees' Contributory Retirement System hired Aristotle Capital Management to run $29 million in active domestic equities.
The $234 million pension fund conducted a shortlist search for a manager to replace Pzena Investment Management, which ran a large-cap value equity portfolio and was terminated on the recommendation of investment consultant NEPC, said William Shea, executive director of the system.
He did not provide a reason for the termination or more specific information on Aristotle's portfolio.
Other finalists in the shortlist search were COHO Partners and Franchise Partners, he said.
NEPC assisted.
