New Mexico Educational Retirement Board, Santa Fe, is searching for an additional international equity manager to diversify its $6 billion fund, said Frank Foy, CIO. Proposals are due Jan. 11.
The $300 million allocation will come from reducing a $2.8 billion internally managed domestic fixed-income portfolio, he said.
Capital Guardian is the fund's current international equity manager, running a $300 million portfolio.
A final decision is expected by February.
The search is being conducted in-house.
Separately, Mr. Foy said, the fund hired Callan Associates as a performance measurement consultant.