Indiana Public Employees’ Retirement Fund, Indianapolis, is searching for growth and value equity managers to run a total of $1.3 billion in active domestic small-cap, midcap and "smid” (small-cap and midcap), said Patricia J. Gerrick, chief investment officer for the $10 billion plan. "We haven’t decided how it will be implemented,” Ms. Gerrick said. "I don’t know how many managers we will hire. It probably won’t be more than five.” The fund could hire separate small-cap and midcap managers, or it could hire managers that manage a blend of small- and midcap equities, she added. "We are not asking for core managers,” she noted.
Proposals are due Jan. 30. Plan officials hope to decide on the managers in March.
William M. Mercer is assisting.
