Searches and Hires

Florida Prepaid College Board seeks midcap or smidcap equity manager

Florida Prepaid College Board, Tallahassee, is searching for an active domestic midcap or smidcap equity manager to run about $182 million for the $15.6 billion Stanley G. Tate Florida Prepaid College Program and $32 million for the $571 million Florida 529 Savings Plan.

According to an invitation to negotiate posted on the state of Florida's procurement website, the board is seeking a manager to establish "separate accounts for each program, consisting of publicly traded mid- or smidcap securities complying with applicable state and federal statutes." Both plans currently have Boston Co. Asset Management as an active midcap manager and Fiduciary Management Associates as an active small-cap manager. Further information could not be immediately learned.

The ITN is available on the state of Florida's procurement website. Proposals are due at noon EDT on Aug. 8. A notice of intent to award will be posted in October or November.

Bert Wilkerson, director of finance, accounting and risk management, could not be immediately reached to provide further information.