Newport searching for small-cap equity manager

Newport, R.I., is searching for a manager to run a total of $7 million to $10 million in small-cap core and small-cap value equity, confirmed Steven Roth, director of manager research at Dahab Associates, investment consultant for the plan.

The pension fund could select a manager to run assets in core and value, or just one of the styles, Mr. Roth said in a telephone interview. Funding will come from rebalancing.

The allocation will be split among the city's $81 million pension fund, $25 million other post-employment benefits fund and $10 million scholarship fund. The exact proportions have not been determined yet.

The RFP is available on Dahab's website. Proposals are due at 5 p.m. EDT April 18. A hiring date was not specified.