San Francisco City & County Employees' Retirement System rehired Galliard Capital Management as stable value fund manager for its $3.9 billion deferred compensation plan, confirmed Darlene Armanino, executive assistant and board secretary, in an email.
The retirement system conducted a shortlist search earlier this year for an underlying manager for the $947 million SFDCP Stable Value Fund due to the pending expiration of Galliard's contract on June 30. Invesco was the other finalist.
Investment consultant Callan assisted.
