Indiana Public Employees Retirement Fund, Indianapolis, is searching for managers to handle concentrated active domestic large-cap portfolios, investing $500 million each in growth and value styles, said Patricia J. Gerrick, chief investment officer. Each concentrated portfolio should have no more than 50 stocks, she said. The $10 billion fund plans to hire at least one growth and one value equity manager, although it might hire more, depending on the responses, she said. The deadline for proposals is May 17.
Funding will come from reducing an S&P 500 index fund managed by Barclays Global Investors, which now has $3.5 billion.
Mercer Investment Consulting is assisting.