The acquisition will provide PEM with enhanced growth opportunities.
The current head of the platform will retire early next year.
The plan also approved liquidating its sole emerging market debt manager at a meeting today.
The city is looking for a firm to oversee its $69 million in non-pension funds.
The authority is looking for an advisor for its $600 million portfolio.
The plan expects to launch the search in January as its incumbent’s contract is slated to expire on June 30.
The state fund is looking for taxable municipal bond managers.
The equity team of Smith, Graham & Co. Investment Advisors will join Dana Investment Advisors, sources have confirmed.
He joins the firm with 25 years of industry experience, the last 15 of which were spent in senior roles across leveraged credit.
The selected firm will replace an incumbent that was terminated earlier this year.