SEARCHES AND HIRES

Philadelphia Board of Pensions seeks international passive equity managers

Philadelphia Board of Pensions and Retirement is searching for at least one passive international equity manager to run an as-yet-undetermined amount, said Christopher R. DiFusco, chief investment officer for $4.3 billion pension fund.

The board is looking to allocate to the following strategies: ACWI ex-U.S. large cap; ACWI ex-U.S. small cap; and Europe, Australasia and Far East small cap. Respondents are welcome to bid on one or more strategies.

There are no incumbent managers for this allocation. A funding source has yet to be determined, Mr. DiFusco said.

The RFP is available on the city’s procurement website.

Proposals are due at 5 p.m. EST on Feb. 28. There is currently no set timeline for a selection.