Milwaukee County Employees Retirement System issued an RFP for an active small-cap equity manager to run $30 million, said Jac Amerell, retirement system manager. The deadline for proposals will be in mid-August, with consultant Mercer giving a recommended list to the board by Sept. 13, he said.
The $1.7 billion fund put incumbent small-cap equity managers Ariel Capital and Goldman Sachs which manage $30 million each on a watchlist due to performance, Mr. Amerell said. The board has yet to determine whether the managers will be terminated; a third manager may be hired if trustees decide to keep both firms.
All search inquiries should be directed to Mercer, Mr. Amerell added.