Pension Fund Portfolio Restructuring and Manager Terminations
Summary
The board voted to replace underperforming small-cap growth equity manager Riverbridge Partners with Driehaus Capital Management to optimize investment returns.
At a glance
- Total mentions
- 2
- Last 30 days
- 1
Discussed at 1 meeting in the last 60 days; most recently Oct 12, 2026.
Impact analysis
Involves shifting up to $25 million in plan assets with management fees set at 0.60% of assets under management.
Pension plan members benefit from enhanced portfolio optimization and stronger growth manager performance.
City taxpayers face a higher required contribution from the municipal budget.
Mentions & discussions (2)
Pension Trustees — October 12, 2026
The pension board dropped two underperforming small-cap stock managers and moved money into index funds and a PIMCO mutual fund to protect city retirement funds and improve returns.
Pension Trustees — June 15, 2026
The board voted to replace underperforming small-cap growth equity manager Riverbridge Partners with Driehaus Capital Management to optimize investment returns.
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