Oregon Public Employees Retirement Fund, Salem, is searching for at least one active domestic large-cap value manager to run between $500 million and $600 million, said Michael Mueller, assistant director-investments. The search by the Oregon Investment Council, which oversees investments of the $36.2 billion fund, follows the termination of Equinox Capital Management, which was dropped in August. Action on the search is expected by early in the second quarter.
California State Teachers' Retirement System, Sacramento, is seeking information from firms on leveraging its $5 billion real estate portfolio, possibly leading to an advisory role in managing the $100 billion pension fund's real estate debt. CalSTRS recently boosted its target real estate allocation to 7% from 5%. Responses are due by Jan. 31.
Massachusetts Turnpike Authority Employees' Retirement System, Boston, is searching for an investment consultant, said Tom Arcadipane, executive director of the $188 million pension plan. Incumbent New England Pension Consultants is invited to rebid. RFPs are available by calling Mr. Arcadipane at (617) 248-2944. Proposals are due by 3 p.m. EST Feb. 15.
Central Service Association, Tupelo, Miss., is searching for a record keeper and investment provider for its 401(k) and 457 plans, each with $10 million in assets, said Scott Blassingame, secretary-treasurer. Incumbent ING Aetna was asked to rebid. Proposals should be e-mailed to [email protected] by Feb. 28. A selection is expected by early spring, Mr. Blassingame said.
Arizona State Retirement System, Phoenix, is searching for a bundled provider for its new 401(a) plan, that will be launched in July and will have about 250,000 eligible participants. The provider will offer record keeping, administration and participant education, said Paul Matson, chief investment officer. RFPs are posted at the system's website, www.asrs.az.us.
Northwestern Memorial Hospital, Chicago, is searching for its first active emerging markets equity manager to run about $40 million, said Thomas M. Satkus Jr., assistant treasurer, who oversees $1.3 billion in pension, foundation and other assets. Watson Wyatt, which will issue RFPs soon, is assisting in the search, which Northwestern hopes to complete by April.
Plymouth County Retirement System, Plymouth, Mass., will issue an RFP in early February for a high-yield and an emerging market manager to run $8.5 million each for the $425 million pension plan, said John McLellan, chairman and treasurer. Proposals will be available on consultant Wainwright Investment Counsel's website, www.winvcounsel.com.
Indiana State Teachers' Retirement Fund, Indianapolis, is searching for a discretionary private equity manager to invest $150 million, said Robert D. Newland, chief investment officer for the $5.5 billion fund. The manager will have full discretion. Fund officials will keep the search open into March and hope to select a manager by the end of that month, he said. Callan Associates is assisting.
Workers' Compensation Reinsurance Association, St. Paul, Minn., plans to search for an active domestic large-cap growth equity manager to run $50 million. The $1 billion reinsurance pool will fund the portfolio through rebalancing; several managers in all asset categories are overweighted, said Keith Summers, investment manager. Mr. Summers expects information on the search to be available soon at the association's website, www.wcra-mn.com. He expects officials to make a selection in the second quarter.
New Jersey Division of Investment, Trenton, is searching for a custodian. The search is the result of a change in state law that now allows the $67 billion system to contract with an out-of-state custodial bank if it has a branch in New Jersey, said Steven E. Kornrumpf, director. First Union, which acquired New Jersey-based First Fidelity Bank, handles most of the fund's domestic custody. Bankers Trust New Jersey, now part of Deutsche Bank, handles much of the global custody. Callan will help conduct the search; a decision is expected in March.
University of New Mexico, Albuquerque, is conducting an asset allocation study of its $182 million endowment fund, said John Maes, assistant treasurer. Consultant William M. Mercer is reviewing all asset classes. The fund may invest 5% of total assets in private equity and reduce its overall equity allocation to 65% from 70%. The fund has 30% of assets in fixed income and cash, he said. Mr. Maes said an RFP for a private equity manager likely will be issued after Feb. 18, when the study is completed.
