Philadelphia pension board eyes midcap growth

Philadelphia Board of Pensions and Retirement will likely begin a search in October for an active domestic midcap growth equity manager to run about $31 million, confirmed Francis X. Bielli, executive director of the $4.3 billion pension fund.

The board will issue an RFP in 30 to 60 days, Mr. Bielli said in a telephone interview.

The search is the result of current manager Geneva Capital Management being on watch for performance, and because it has been a long time since an RFP has been issued in that strategy, Mr. Bielli said.

Geneval Capital will be invited to rebid. Nicholas Bauer, principal and director-consultant relations and product specialist at Geneva Capital, did not return a phone call for comment by press time.

The RFP will be available on the city’s website.