Westland (Mich.) Police and Fire Retirement System hired Wellington Management to run $8 million in active domestic small-cap core equities.
The $150 million pension fund issued an RFP in April because it planned to split its $16 million active domestic smidcap equity portfolio into small-cap and midcap components. Loomis Sayles managed that portfolio. The firm was invited to bid for the new portfolios.
The other finalists were Copeland Capital Management and Palisade Capital Management, said Steven Roth, chief investment officer of Dahab Associates, the pension fund's investment consultant.
Dahab Associates assisted with the search.
