New York City Retirement Systems extended the deadline for proposals in its search for managers of debt-based economically targeted investment programs to May 1 at 4 p.m. EDT, from April 17, said Jane Levine, deputy comptroller for pensions. The amount of the mandate from the $90 billion system is undetermined. Interested managers should contact Noreen Pye at (212) 669-4949, or select NYC Pension Funds at www.comptroller.nyc.com.
Wyoming Retirement System, Cheyenne, is searching for a manager to run $300 million in active international large-cap core equities, said Tom Mann, benefits and communications administrator. The $4.6 billion system also will search for a manager to run $100 million in active domestic midcap to small-cap value equities, he said. Funding for both managers will come from rebalancing. RFPs for both searches are available from Buck Consultants in Denver. Proposals for the international search are due April 24, and for the domestic search, April 25, both by 2 p.m. MDT.
Town of Plymouth (Mass.) Contributory Retirement System is searching for a domestic high-yield fixed-income manager to run 5% of its $81 million in assets. It is conducting the search to see what else is out there and may retain its current manager, Salomon Brothers Asset Management. Deadline for proposals is April 30. Segal Advisors is assisting.
Amesbury (Mass.) Retirement System is searching for an active domestic small-cap to midcap value manager to run $1 million. The $26 million system wants to diversify its portfolio. Funding will come from reallocation. The deadline for proposals is May 7. Segal Advisors is assisting.
Baltimore Fire & Police Retirement System is searching for a consultant on a per-project basis and for a permanent consultant for the $2 billion system. Incumbent Callan Associates' contract expired, said Thomas Taneyhill, system administrator. The RFP for the project consultant is available from Mr. Taneyhill via e-mail at [email protected] Deadline for proposals is April 30. The RFP for the permanent consultant will be available in June.
Tulsa (Okla.) County Retirement System is issuing an RFP for an active international multicap equity manager to run up to $15 million in a mutual or commingled fund, said Bob Hyer, second deputy treasurer of the $130 million plan. The RFP is available from consultant Marquette Alliance. No deadlines have been set, he said.
Los Angeles County Employees Retirement Association, Pasadena, Calif., expects to issue an RFI in about a month for an emerging fixed-income manager to run about $150 million. The board for the $32 billion system in December expanded its emerging manager policy. The search will be conducted internally with the help of consultant Frank Russell. Also, the board approved an implementation plan that eventually will lead to an informal search for an emerging real estate manager to run up to $150 million. A formal RFI or RFP process will take place once a universe of managers has been identified, said John McClelland, principal investment officer.
University of Washington, Seattle, likely will change its international equity allocation and might search for an international growth manager later this year, said V'Ella Warren, treasurer of the board of regents and assistant vice president-financial management. The university had $100 million of its $868 million consolidated endowment fund invested in international stocks, as of Dec. 31, along with $34 million of other university endowment and operating assets. Trustees plan to keep the total amount of international equities stable, but may add more of a growth component. Currently, Lazard Asset Management runs $124.4 million in a value style, while City of London manages $9.4 million in emerging markets.
Norfolk County Retirement System, Canton, Mass., might search for market-neutral, convertible-arbitrage and private equity managers, said Tim Cahill, treasurer for the $400 million system. It wants to put 3.2% of total assets in market neutral and 5.1% in convertible arbitrage, and to increase private equity to 7.5% of assets from 5%. It has petitioned the Massachusetts Public Employee Retirement Administration Commission, which oversees the state's pension systems, for permission, which is required.
New Orleans Employees' Retirement System plans to search for a domestic large-cap core equities manager to run $35 million, said Jerome Davis, chairman of the board of trustees at the $335 million fund. Details have not been worked out. Mr. Davis said there is concern over current manager Schroder's "overlap in strategy" with other managers.