Brookline (Mass.) Retirement System is searching for a manager to run $15 million in international equities for the $145 million system. RFPs can be obtained from Margaret Cossette, deputy director of finance, at (617) 730-2028; proposals are due by 2: 30 p.m. EST March 9. The new manager will replace Irish Life, which resigned because it is scaling back service to U.S. clients.
Indiana Public Employees' Retirement Fund, Indianapolis, is searching for an investment consultant with experience in alternatives; the board has adopted a plan to add the asset class, said E. William Butler, executive director of the $11.5 billion fund. The deadline for proposals is March 19; they can be sent to Mr. Butler or Peter A. Keliuotis, senior consultant at William M. Mercer. A selection is expected no later than May, Mr. Butler said.
Swampscott (Mass.) Contributory Retirement System, with $26 million in assets, is searching for its first commission recapture broker. Proposals are due March 21. Segal Advisors is assisting.
Texas Tomorrow Fund, Austin, the state's prepaid college tuition program, is searching for five active equity managers and a custodian for the $967 million master trust. Managers will run the following portfolios: domestic large-cap growth; domestic large-cap core growth; international large-cap value; domestic large-cap value; and domestic small-cap growth. Portfolio sizes will depend on recommendations from board advisers, said Zulay Sanchez, fund manager. Funding will come from managers - which were not identified - whose contracts have expired. All incumbents can re-bid, she said. RFPs are available at http: www.marketplace.state.tx.us. The deadline for proposals is 2 p.m. CST on the following dates: March 27 for active domestic large-cap growth and active domestic large-cap core growth; April 6, active international large-cap value; April 11, active domestic large-cap value and active domestic small-cap growth; and April 2, master trust custodian services. Proposals can be sent to John C. Wright, assistant general counsel at the Texas Comptroller of Public Accounts, or e-mailed to [email protected]
Marin County Employees' Retirement Association, San Rafael, Calif., is searching for active large-cap growth equity, international value equity, and core domestic fixed-income managers, said Norman Klein, retirement administrator. Selections are expected to be made at the $940 million pension fund's April 11 meeting. Through consultant Callan Associates, the fund is seeking an active manager to take over a $33.5 million passive mandate tracking the S&P/BARRA Growth index and managed by Barclays Global Investors. Also, the fund will split $165 million evenly between two international value portfolios. Sources said Montgomery Asset Management has been picked as one manager; Zurich Scudder currently runs a $113 million international portfolio for the fund and is in the running for the second portfolio. The remainder of the assets will come from a terminated passive BGI portfolio benchmarked against the MSCI EAFE index. Lastly, the fund is seeking a manager to run a $120 million core U.S. fixed-income portfolio. A $202 million core domestic bond portfolio run by Seneca Capital Management will be converted into a $120 million core-plus portfolio with the same manager, while a $38 million passive global fixed-income portfolio run by BGI will be shut down.
New York City Employees' Retirement System is searching for private equity managers that invest in companies that enhance the quality of life and promote economic activity in New York City, said Jane Levine, deputy comptroller for pensions. The $40 billion system, which has a 2% allocation to the asset class, has neither set a timetable for selecting partnerships nor determined how much it will commit and how many firms it will hire. Proposals should be sent to the system's private equity consultant, Pacific Corporate Group and the New York City comptroller's office.
Arizona State Retirement System, Phoenix, plans in April to begin a search for a commercial mortgage disposition company to help sell the state's $200 million commercial mortgage portfolio. The $23 billion system is putting together an RFP, said Paul Matson, chief investment officer. Managers can contact Mr. Matson for further information. No deadline has been set for proposals, but a firm will be hired by the end of the summer.
New Mexico Public Employees Retirement Association, Santa Fe, will send out RFPs in the next six months for one or two active domestic large-cap managers to run a total of $1 billion, said Robert E. Gish, director of the $8.5 billion system. Funding will come from terminating active domestic large-cap value managers Sanford C. Bernstein, which managed $600 million, and Brinson, $400 million. Managers can contact Mr. Gish at (505) 827-4703. Deadlines have not been established.