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APFC names finalists for U.S. large cap manager search


Mar 22 - The APFC announced that five U.S. large cap mandates have been awarded, concluding a manager search which began in September, 2012. The mandates are for $100 million each, and funding is underway with a target completion date of March 28. Selective rebalancing within existing mandates will provide the funds for the new mandates, and no managers were terminated.

Staff recommended the search based on the strong core nature of the portfolio, citing a need for additional growth and value managers to increase the diversification of the Fund’s holdings. The finalists, and their respective style tilts, are as follows:

Growth style -

DSM Capital Partners, LLC

CastleArk Management, LLC

Value style -

Herndon Capital Management, LLC

SKBA Capital Management, LLC

Lyrical Asset Management, LLC

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