San Francisco City & County Retirement System will issue an RFP by March 15 for one or more managers to run a total of $200 million in active domestic large-cap value equities for its $9.8 billion pension fund, said Clare Murphy, executive director. Funding will come from a $310 million portfolio run in the same style by J.P. Morgan Fleming, which was terminated for performance last year. The balance of that portfolio was reallocated as part of a new asset allocation the fund adopted last summer.
The search is being run through InvestorForce. Responses will be due April 25. The staff is expected to provide a recommendation to the board no later than August, Ms. Murphy said.
Separately, the board hired Causeway Capital Management to run a $150 million active EAFE value portfolio, a new allocation. The board also asked staff to provide further information about the possibility of hiring another manager to run a second $150 million active EAFE value portfolio; the board will consider the second allocation at its next meeting, May 6.