The City of Philadelphia's pension system hired some new money managers at its regular board of trustees meeting Tuesday, awarding mandates to a number of investment firms, some known locally and others nationally.
Pending completion of their contracts, the Board of Pensions and Retirement awarded new mandates to the following active managers in fixed-income, and domestic- and international-equity sectors:
In domestic equity (small, mid-, and large capitalization), Brandywine, Lyrical, Hahn, Herndon, GW, and Apex received commitments of money from the city. For fixed-income, Longfellow, Logan Circle Partners of Philadelphia, and GW were also awarded mandates. For international, Cheswold Lane Asset Management of Conshohocken was awarded an investment mandate.