Los Angeles Water and Power Employees Retirement Plan is searching for a retainer investment consultant. The $6 billion system has used consultants only for special projects, said Duamel Vellon, retirement plan manager. An asset allocation study and manager reviews are expected once the consultant has been hired. RFPs are available at retirement.ladwp.com. Proposals are due by 4 p.m. PDT May 23.
Woburn (Mass.) Retirement System is searching for an active manager to run $8 million in domestic small-cap to midcap value equities. The $65 million system may replace incumbent David L. Babson, which is on a watch list for performance, said consultant Bart Earley of Wainwright Investment Counsel. A decision on terminating Babson will be made after proposals have been evaluated, he said. Isaac Williams, spokesman at Babson, did not respond by press time. Proposals are due May 23.
Norfolk County Retirement System, Dedham, Mass., is searching for an active domestic small-cap value equity manager to run $25 million, said Timothy Cahill, county treasurer. The deadline for proposals is May 25. Current manager INVESCO is on a watch list for performance, Mr. Cahill said. The $400 million system will review responses at its May 30 board meeting and decide if it is worth making the switch, Mr. Cahill said. Officials at INVESCO were unavailable for comment by press time.
Navajo Nation, Window Rock, Ariz., extended its searches for a bundled provider for its $38 million 401(k) plan and $4.5 million deferred compensation plan, and an actuary for its $200 million defined benefit plan, said Rodger Martinez, administrator. The search was extended because the foundation didn't advertise it thoroughly, he said. Current bundled provider Zurich Scudder and actuary Watson Wyatt will be able to rebid. RFPs can be obtained by contacting the Navajo Nation. Deadline for proposals is June 1, Mr. Martinez said.
New York City Board of Education Retirement System is searching for an investment consultant for its $2 billion defined benefit plan and its $300 million 403(b) plan. Incumbent Buck Consultants' contract expired, and the system is required to put the contract out for bid, said Horatio Sparkes, executive director of the system. The deadline for proposals is 11: 30 a.m. EDT June 12. A selection is expected by the end of June, Mr. Sparkes said.
Connecticut Retirement Plans and Trust Funds, Hartford, is searching for a real estate consultant as the result of an asset allocation study, said Bernard Kavaler, communications director. The $21 billion system's real estate target is 5% of total assets. RFPs are available at www.state.ct.us/ott/, and proposals are due June 14.
Worcester (Mass.) Retirement System is searching for an active domestic midcap value equities manager to run between $30 million and $40 million. RFPs will be available shortly, and the $600 million system expects to pick the new manager by the end of summer, said John Haggerty of consultant Meketa Investment Group. Funding will come from its existing equity portfolios. The search was prompted by system officials' desire to get exposure to that segment of the market through an active manager; it already has passive exposure.
Mississippi Health Care Trust Fund, Jackson, will issue RFPs at the end of May for up to four domestic small-cap to midcap equity managers to run a total of $100 million, said Ron Logan, president of consultant Logan Partners. The $650 million trust will consider active and passive growth, value and core managers, he said. Funding will come from cash. RFPs will be available by contacting Logan Partners or the state's treasury department. The deadline for proposals has not been set.
Los Angeles County Employees Retirement Association, Pasadena, plans to search for an emerging real estate manager to run $50 million initially and up to $150 million over three years, said Gloria B. Gil, investment officer, real estate. Staff for the $32 billion system plans to issue an RFI or RFP once they've determined there would be enough respondents to make it worthwhile. Townsend Group, LACERA's real estate consultant, is assisting with the research. No timeline has been set.
New Haven (Conn.) Police and Firemen's Pension Fund, with $280 million in assets, and the $165 million New Haven Employees Retirement Fund are considering a new alternatives allocation, said Gwendolyn Bell, pension administrator. Fund officials will discuss venture capital this week and funds of funds next month; they already have discussed private equity, she said. A decision is expected in two to three months.
