Ohio State Highway Patrol Retirement System, Columbus, is searching for two active domestic equity managers, one to run $50 million in large-cap value and one to manage $20 million in small-cap/midcap growth, said Richard Curtis, executive director at the $600 million system. Candidates must have a minimum of $100 million in assets under management. RFPs are available on the fund's website, www.ohprs.org; the deadline is March 1. Further inquiries can be directed by e-mail to [email protected] Callan Associates is assisting.
Waterbury (Conn.) Retirement System, with approximately $13 million in assets, is searching for one bond manager and two stock managers as it moves from a balanced approach. The system is searching for a core domestic fixed-income manager to manage $4.5 million, and an active domestic small-cap core manager to run $1 million. RFPs are due Feb. 27 and may be obtained from [email protected] Waterbury also is searching for a domestic, core large-cap equities manager to run an active or passive portfolio of $6 million; the deadline is Feb. 20. Fleet and Fahnestock Asset, the existing managers, will be allowed to participate in the searches, said Kevin Leonard, the Segal Advisors consultant who is assisting.
Massachusetts Pension Reserves Investment Management Board, Boston, is searching for a manager to run $650 million in an enhanced cash account, benchmarked to LIBOR plus 50 points, said Stan Mavromates, deputy CIO. RFPs are available from the $26 billion system's website, www.mapension.com. Proposals, which are due at 3 p.m. EST March 4, should be sent to Mr. Mavromates by mail or via e-mail at [email protected] The current manager is custodian Mellon Financial; the custodial contract is out for bids and the board decided to separate cash management. MassPRIM also is searching for one or more REIT managers; no dollar amount has been set, said George Wilson, senior investment officer. RFPs are available from the fund's website; proposals are due March 10.
Virginia Retirement System, Richmond, is searching for a manager to run a stable value investment for its 457 and 401(a) plans, which have combined assets of $468 million, according to Laura Pugliese, investment officer. Officials expect to select finalists within two months.
Brockton (Mass.) Contributory Retirement System issued an RFP for an active domestic small-cap value equity manager to run $9 million, possibly replacing Phoenix Investment Counsel, said Harold P. Hanna, executive director. Officials for the $168 million plan may decide to retain Phoenix after seeing results of the search, he said. The RFP is posted on Wainwright Investment Counsel's website, at www.winvcounsel.com, he said.
Shropshire County Council Pension Fund, Shrewsbury, England, issued an RFP for a manager to run $80 million in enhanced indexed U.S. equities, said Philip Guy, council treasury and pensions manager. Officials for the £640 million ($1.04 billion) plan will make a selection by August, he said. Previous manager J.P Morgan Fleming Asset Management ran the portfolio actively. Frank Russell is assisting.
Alaska State Pension Investment Board, Juneau, plans to search for a core real estate manager to run the $200 million that had been handled by PMRealty Advisors, said Gary Bader, CIO. The $11 billion plan's real estate consultant, Townsend Group, will assist, Mr. Bader said. Details have not been finalized.
Fairfax County (Va.) Educational Fund added allocations to hedge funds and private equity, with 5% of total assets going to each, said Alan Belstock, finance director. Funding will come from reducing domestic equities by 7.5 percentage points and fixed income by 2.5 percentage points. The $1.25 billion pension plan will review its domestic equity portfolio later this month and its international equities and real estate portfolios next month before developing a plan for moving into alternative investments. Mercer Investment Consulting is assisting.
CalSTRS this spring will look at creating a small/emerging active equity manager program. The $92 billion California State Teachers' Retirement System, Sacramento, will consider taking equity stakes in the managers chosen. And the CalSTRS investment committee at its May meeting will take up its postponed RFP for a real estate consultant. Incumbent Pension Consulting Alliance will be eligible to bid. In addition, the investment committee next month will examine its split between passive and active management of the fund's $35.2 billion in domestic equities.