Brown Capital Management Inc., a Baltimore-based money management firm, has been chosen by the state of Maryland to manage $100 million in retirement and pension fund assets.
Brown Capital manages more than $2.5 billion in assets. Its largest clients include the California Public Employees' Retirement System, the State of Connecticut Pension Plan and the Oregon State Pension Retirement System.
The firm is headed by Eddie C. Brown, who is known as a stock-picking expert. Brown is a panelist on "Wall Street Week With Louis Rukeyser."
It is the first time in Maryland's history that a sum this size has been awarded to an African-American firm, according to the Maryland State Treasurer's Office, which held a news conference yesterday in Annapolis.
"Eddie Brown has an outstanding record," said state Treasurer Richard N. Dixon.
Brown, a former money manager with T. Rowe Price Associates Inc., founded the firm in 1983.
Brown Capital also manages money for the Johns Hopkins Hospital Endowment Fund and the Urban Medical Institute Foundation.
Pub Date: 5/03/97