Philadelphia Gas Works hunts for domestic small-cap growth manager

Philadelphia Gas Works Retirement Reserve is searching for a domestic small-cap growth equity manager to run about $13 million, confirmed Charles Jones, executive director of the Philadelphia Sinking Fund Commission, which manages the $441 million pension fund.

An RFP is being issued due to the pending expiration of the contract of current manager Eagle Asset Management on March 31. The firm, which runs an active strategy, is invited to rebid.

The commission is entertaining proposals from both active and passive managers, according to Mr. Jones.

The RFP is on the city's website. Proposals are due at 5 p.m. EST on Feb. 15. Finalist interviews are scheduled for May 15, with a selection date of May 17. The one-year contract, with three possible one-year extensions, would begin on July 1.