District of Columbia Retirement seeks U.S. small-cap equity manager

District of Columbia Retirement Board, Washington, will search for an active domestic small-cap equity manager, according to recently released minutes from the Sept. 20 board meeting.

The RFP will be available on the DCRB's website at http://dcrb.dc.gov/page/dcrb-procurement-opportunities.

Further details on the search could not be learned by press time.

Separately, the board of the $4.5 billion pension fund at its Sept. 20 meeting hired Stone Harbor Investment Group to run an initial $90 million in emerging markets debt. The funding source could not be learned by press time.

In private equity, the board agreed to commit $15 million to Blackstone Real Estate Partners VII, $10 million to Riverstone Global Energy & Power Fund V, and $10 million to Lime Rock Partners VI, a private equity fund that focuses on energy.

The board also agreed to renewed Cliffwater as its real assets investment consultant with a one-year contract and the option of two one-year extensions. Cliffwater became DCRB's first real assets consultant in August 2011, according to the board's Comprehensive Annual Financial Report for fiscal year ended Sept. 30, 2011.

The fiscal 2011 CAFR reported a gross return for the pension fund's total investments of 2.9%, compared to a policy benchmark of 2.1%. Asset allocations were 48% public equities, 28% fixed income, 10% private equity, 7% absolute return, 5% real estate and 2% infrastructure.

Calls to DCRB were not returned at press time.