Danville Employees' Retirement System wants growth equity manager

Danville (Va.) Employees' Retirement System is searching for a domestic large-cap growth equity manager to run $10 million, confirmed Steven Roth, director of manager research at Dahab Associates, the $200 million pension fund's investment consultant.

Mr. Roth said the search is being conducted for performance-related reasons. Current active manager Chase Investment Counsel is invited to rebid. Peter W. Tuz, Chase president, did not return a phone call for comment by press time.

Mr. Roth also said the pension fund likely will continue with this portfolio as an actively managed strategy but is considering bids from passive managers.

The RFP is available from Dahab's website. Proposals are due at 5 p.m. EDT on April 16. A timetable for a decision has yet to be determined.

Patricia Conner, city senior accountant and retirement board secretary, referred questions regarding the search to Dahab Associates.

Separately, pension fund officials will interview four finalists in its investment consultant search at a special board meeting on March 22, according to Ms. Conner.

An RFP was issued in December. Dahab, which has been the pension fund's investment consultant since 1986, is a finalist, along with Asset Consulting Group, Callan Associates and PFM Asset Management.

— Contact Rob Kozlowski at rkozlowski@pionline.com | @Kozlowski_PI