A Florida pension plan is likely to search for two active domestic small-cap equity managers as part of a manager structure review being conducted by its new general investment consultant.
Convertible-bond issuance is running at a record pace as companies like Lyft (ticker: LYFT), Zillow Group (Z), Pioneer Natural Resources (PXD), BioMarin Pharmaceutical (BMRN), and Penn National Gaming (PENN) seek to shore up their balance sheets or simply take advantage of strong investor demand for the hybrid securities.