San Francisco City & County Employees Retirement System plans to issue two RFPs. One RFP for a domestic core-plus manager to run $600 million will be issued in October, said Dick Piket, senior investment officer, fixed income, for the $11 billion fund. Partial funding will come from a $400 million domestic portfolio run by Scudder Kemper, which will be invited to rebid, he said. Additional funding will come from reducing corporate high-yield portfolios run by Oaktree, with $310 million, and W.R. Huff, $157 million. The funds domestic fixed-income portfolio is close to $2.3 billion.
A search for a global fixed-income manager to run $750 million will follow by the end of December, said Mr. Piket. Funding will come from current portfolios.