Pembroke Pines (Fla.) Firefighters & Police Officers Pension Fund hired Aristotle Capital Management to run $35 million in active domestic large-cap value equities.
The $850 million pension fund’s board approved the hiring at its March 21 meeting, said James Fisher, plan administrator.
The pension fund issued an RFP in September due to performance concerns with current large-cap value manager Bridgeway Capital Management.
The firm did rebid for the services but was not a finalist, said Kevin Condy, director of research at investment consultant Dahab Associates, which assisted with the search. Officials at Bridgeway Capital could not be immediately reached for comment.
The other finalists were Putnam Investments and Seizert Capital Partners.
As of June 30, the pension fund's actual allocation to domestic equities was 52%; the target is 58%.
