Pennsylvania Municipal Retirement System, Harrisburg, rehired Emerald Advisers to run about $110 million in active domestic small-cap growth equities, said Steven Roth, chief investment officer at Dahab Associates, the $2.4 billion pension fund's investment consultant.
PMRS issued an RFP in April to comply with state law requiring services be put up for bid every few years.
The other finalists were Cadence Capital Management, Granahan Investment Management, State Street Global Advisors and Weatherbie Capital.
The pension fund's public equities target is 65%.
Dahab Associates assisted with the search.
