Essex County Council on lookout for global equity manager

Essex County Council Pension Fund, Chelmsford, England, is searching for an unconstrained global equity manager to run up to £300 million ($483 million), confirmed Martin Quinn, head of investments at the £3.5 billion pension fund.

Funding comes from terminating AllianceBernstein (AB) from a similarly sized mandate “following a prolonged period of poor returns,” Mr. Quinn said in an e-mail.

AllianceBernstein spokesman Sebastian Kadritzke declined to comment, citing company policy not to comment on clients.

Essex plans to name managers to a framework agreement by June, with a successful manager to be funded shortly after that.

Investment consultant Hymans Robertson is assisting.

Proposals are due Jan. 4. More information is available from Hymans Robertson at EssexGESearch@hymans.co.uk.