New Mexico Public Employees' Retirement Association, with $4.3 billion in assets, issued an RFP for a mortgage-backed securities manager to run $500 million. Incumbent Smith Breeden is expected to re-bid. RFPs are due by Nov. 22, with final placement expected before year end.
Jeffrey States, investment director, said NMPERA also would issue RFPs next month for a $400 million small-cap equity placement; the RFP was canceled in September because of an insufficient response rate.
Wilshire is assisting with both searches.