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.