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The equity team of Smith, Graham & Co. Investment Advisors will join Dana Investment Advisors, sources have confirmed.
Both active and passive management faced the pressures of fee compression in 2022, according to a recently released study from investment consultant Callan.
The global investment firm expanded with three new hires.
The domestic small- and mid-cap equity firm lost a partner and core equity team member over the weekend.
The plan also granted staff discretionary authority to invest in GP-led secondary transactions.
The pension plan will consider replacing its REIT manager due to the firm’s underperformance.
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.
The plan also decided to not continue with its REIT manager search.