California Public Employees' Retirement System trustees approved up to a one-year extension on the $143 billion fund's 13 equity and fixed-income international money managers contracts to provide additional time for a search for international managers to invest almost $12 billion in assets.
The extension is until June 30, 2000. Staff of the Sacramento-based fund expect to issue the RFP for equity and fixed-income international managers next May. Finalist interviews and awarding of contracts are scheduled for January 2000. Existing managers are expected to bid for the contracts.