San Francisco City & County Employees' Retirement System is searching for a bank loan manager to run about $100 million, confirmed Norm Nickens, executive assistant to the $16.3 billion retirement system.
The strategy is intended to complement the pension fund's existing U.S. high-yield portfolio that makes up about 8% of the $4.3 billion fixed-income portfolio, according to the RFP. U.S.- or globally oriented products will be considered.
Investment consultant Angeles Investment Advisors is assisting.
The RFP is expected to be available on SFERS' website by the end of Tuesday, Mr. Nickens said. Proposals are due at 11:59 p.m. PDT May 7. Finalist presentations are expected on July 17 and 18 with a hiring decision on Aug. 14.