Chatham County Employee Retirement Plan, Savannah, Ga., is searching for an active domestic large-cap value equity manager to run $25 million, said Amy Davis, the city's finance director, in an email.
The $250 million pension fund has issued an RFP due to incumbent manager Herndon Capital Management's announcement in October it was closing its doors.
Investment consultant Dahab Associates is assisting with the search. The pension fund is seeking a manager whose returns are benchmarked to the Russell 1000 Value index. Separate accounts, commingled funds and mutual funds are being considered.
Proposals are due at 5 p.m. PST on Dec. 12. A timeline for a decision has yet to be determined.
The RFP is available on Dahab's website.