Ohio Bureau of Workers' Compensation, Columbus, is searching for one or more transition managers for the $26.8 billion in insurance funds it oversees, spokeswoman Melissa Vince said in an email.
The bureau issued the RFP because some current external managers have not been performing well, according to a previously issued report from Bruce Dunn, chief investment officer, and the bureau wishes to have transition managers under contract in case a termination becomes likely. The bureau has not had any transition managers since letting a previous contract expire on June 30, 2015. The underperforming managers were not identified, with Mr. Dunn's report saying only that the investment division and investment consultant RVK are giving the managers more time to improve performance.
The RFP is available on the state's purchasing website. Proposals are due at 2 p.m. EST on Feb. 6. A decision is expected on April 26.