Sterling Heights (Mich.) General Employees Retirement System is about to begin a search for a large-cap value domestic equity manager to handle between $15 million and $20 million for the $80 million defined benefit plan, said Rick Sanborn, treasurer. The search was undertaken because the system has become concerned with incumbent manager Loomis Sayles performance, he said. A spokeswoman for Loomis Sayles declined to comment.
Interested firms should contact consultant Merrill Lynch. RFP response dates have not yet been set.
Separately, the Sterling Heights Police and Fire Retirement System selected four finalists in its search for a large-cap value domestic equity manager to run $35 million for its $180 million defined benefit plan, said Mr. Sanborn. They are: Armstrong Shaw; Davis Selected; GE Investments; and Todd Investment Advisors.