West Palm Beach Police picks up Lazard, PGIM Fixed Income
West Palm Beach Police picks up Lazard, PGIM Fixed Income
PGIM Fixed Income to run $10 million each in active emerging markets debt.
The $451 million pension fund s board approved the hirings at its April 9 meeting, confirmed John McCann, senior consultant at AndCo Consulting, the pension fund s investment consultant.
Both managers run blended currency portfolios, Mr. McCann said.
Funding comes from a reduction in the portfolio of the pension fund s sole fixed income manager Garcia Hamilton & Associates, leaving it with about $67 million.
AndCo Consulting assisted.
West Palm Beach Police collars new small-cap manager
Barrow Hanley Mewhinney & Strauss to run about $19 million in active domestic small-cap value equities.
The $451 million pension fund conducted a shortlist search for a manager to replace incumbent small-cap value manager Wellington Management, which is being terminated for underperformance.
The other finalists were Channing Capital Management and Kennedy Capital Management, said John McCann, senior consultant with AndCo Consulting, the pension fund s investment consultant.
A Wellington Management spokeswoman could not be immediately reached for comment.
As of Dec. 31, the actual allocation to domestic equities was 45.8%.
AndCo Consulting assisted with the shortlist search.
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West Palm Beach Police picks private equity fund of funds
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West Palm Beach (Fla.) Police Pension Fund committed $12 million to Aberdeen Standard U.S. Private Equity IX, said John McCann, senior consultant at AndCo Consulting, the pension fund s investment consultant.
It is the $396 million pension fund s second commitment to a private equity fund of funds managed by
Aberdeen Standard Investments.
As of Sept. 30, the pension fund s actual allocation to private equity was 4%.
AndCo assisted.