New Mexico Educational looking for passive international equity manager

New Mexico Educational Retirement Board, Santa Fe, is searching for a passive international equity manager to run $200 million, confirmed Bob Jacksha, chief investment officer.

Funding is coming from terminating active international equity value and growth strategies managed by AllianceBernstein (AB) and Baring Asset Management, which total about $200 million. The $10.1 billion pension fund is “generally moving more toward passive” investments, Mr. Jacksha said in a telephone interview.

The international equity portfolio is rounded out with a $245 million active core international equity portfolio managed by Pyramis Global Advisors, which was rehired last month as part of a shortlist search.

The selected manager will run a strategy benchmarked against the MSCI EAFE index or MSCI EAFE + Canada index.

The RFP is available on investment consultant NEPC's website. Proposals are due at 3 p.m. EDT April 26. Finalist interviews and a hiring decision are expected on May 23.