Newport, R.I. wants small-cap, real estate debt managers

Newport, R.I., is searching for an active international small-cap manager to run $10 million, active domestic small-cap growth and small-cap value managers to each run $10 million, and a real estate debt manager to run between $5 million and $10 million.

Investment consultant Dahab Associates is assisting the city — which has approximately $160 million in trust assets across pension, OPEB and trust and scholarship funds —with the searches.

The searches are being conducted as part of an overall portfolio review and to evaluate potential investments, said William Dahab, principal and director of research at Dahab Associates.

Funding will come from a mix of reallocating assets and possibly replacing some managers. Mr. Dahab did not know which allocations had incumbent managers or who the managers were at press time.

Strategies benchmarked to either MSCI EAFE or ACWI ex-U.S. small-cap indexes will be accepted for the international search.

Managers may apply for more than one of the small-cap searches.

Proposals for all the searches, posted on Dahab's website, are due by 5 p.m. EST on March 10. Hiring dates have not yet been determined.

Further information could not be learned by press time. Patricia A. Cofield, administrative assistant to the mayor, could not be reached for comment.