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David Baron and Michael Baron have been named co-presidents of Baron Capital as Linda Martinson will step down in June.
The outgoing director has been with the plan since 2014.
The selected firm will serve for an initial one-year term beginning on July 1.
The water district conducted a similar search process for the services on behalf of its short-term liquidity portfolio in 2019.
The city is seeking a firm to manage a portion of its cash portfolio.
The firms are working toward a definitive agreement, which is expected to be announced by the end of the quarter.
The manager hired a new senior v.p., portfolio manager and senior research analyst in support of its global and international strategies.
The retirement plan committed $20 million to a fund after narrowing a search from a group of 20 RFP responses.
The hires will conclude an RFP process that began in January.
The pension plan will conduct a search for its in-state private markets program and also recently hired a high-yield fixed-income manager.
