Two Orlando, Fla., pension funds hired Axiom International Investors to manage two active emerging markets equity portfolios.
The Orlando Firefighters' Pension Fund and Orlando Police Pension Fund conducted a shortlist search for an emerging markets equity manager to complement the emerging equities exposure in an active international equity portfolio managed by Artisan Partners.
Investment consultant NEPC launched the search at a Nov. 12 joint board meeting, those meeting minutes show.
The boards of the two pension funds selected Axiom at a Jan. 26 meeting, recently released meeting minutes show. The size of the portfolios was not disclosed.
The other finalists were Columbia Threadneedle Investments and William Blair & Co.
The pension funds share a target allocation of 15% to international equities.
The funds' websites do not disclose their asset sizes. An investment consultant RFP in 2019 said the two pension funds, along with the Orlando General Employees' Pension Fund, had a combined $1.3 billion in assets at the time.
Michele Keane, the city's pension coordinator, could not be immediately reached for further information.