Indiana State Teachers' Retirement Fund, Indianapolis, is searching for a commingled real estate manager to run $30 million, said C. Philip Barnes, assistant chief investment officer. The $2.9 billion fund would prefer managers with more than $500 million in assets under management. Interested managers should contact Callan, which is assisting in the search, by 4:30 p.m. EST April 28.
Brockton (Mass.) Contributory Retirement System is searching for an active emerging markets equity manager to run $5 million, said Harold Hanna, spokesman for the $160 million pension fund. RFPs are available from consultant Wainwright Investment Counsel by e-mail from Christine Florio at [email protected]; proposals are due at noon EDT May 6.
South Tyneside Metropolitan Borough Council Tyne & Wear Pension Fund, Hebburn, England, with £2.2 billion ($3.5 billion) in assets, issued an RFP for an actuarial consultant. Previous actuary Watson Wyatt withdrew from the local authorities pensions consulting market. Proposals are due May 8.
Massachusetts Water Resources Authority Retirement System, Boston, is searching for the $132 million pension fund's first commission recapture services firm. RFPs are available from the system at (617) 788-2575; proposals are due May 10.
Iowa Public Employees' Retirement System, Des Moines, issued an RFP for a manager to run $550 million in active risk-controlled U.S. large-cap equities. The $13.9 billion system is looking for candidates that run a long-only portfolio against the S&P 500 stock index and have at least $1.5 billion in total assets under management. The system is soliciting proposals from a group of managers screened for appropriateness using consultant Wilshire Associates' database. The RFP is available on the Iowa PERS website at www.ipers.org, and Wilshire's website at www.wilshire.com/manager/consulting/research/managersearch. Proposals are due at the system's headquarters by 3 p.m. CDT May 12.
Quincy (Mass.) City Contributory Retirement System, with $248 million in assets, is searching for a manager to run $10 million to $15 million in high-yield fixed income, said Edward Masterson, board administrator. RFPs are available by e-mailing Frank Benham at consultant Meketa, at [email protected] Proposals are due at 4 p.m. EDT May 13.
Weymouth (Mass.) Retirement System is searching for a custodian, an investment consultant and a transition management firm. These functions now are handled by the Massachusetts Pension Reserves Investment Management Board. In January, Weymouth officials notified PRIM officials that they might take over management of some of the plan's $92 million in assets, although no decision has been made. RFPs are available on the plan's website at www.weymouthretrfp.com; proposals are due noon EDT May 15.
Ohio Public Employees' Retirement System, Columbus, is searching for a consultant on a per-project basis to evaluate the $47 billion fund's investment operations program and recommend improvements, said Roger Fox, project coordinator. RFPs will be available in early May from Mr. Fox at (614) 228-8484 or [email protected]; proposals will be due in early June.
Oklahoma Firefighters' Pension & Retirement System, Oklahoma City, may issue an RFP for a manager to run $47 million in active international equity benchmarked to the MSCI EAFE index, said Robert Jones, executive director. If the board of the $1.1 billion pension plan approves the RFP at its May 16 meeting, it should be issued by May 23, he said. Asset Consulting Group will advise.
Montana Board of Investments, Helena, will issue an RFP for managers to run active Asian equities portfolios for its nine pension plans, which have a combined $4.8 billion in assets, said Carroll South, executive director. The size of the portfolios has not been determined, Mr. South said. Funding will come from terminating active Asian equities managers Schroders, which runs $100 million, and SG Pacific, which handles $66 million; the terminations aren't performance-related and both managers may rebid, he said. Plan officials may decide to increase the number of active Asian equity managers now bring used, he said. The RFP will be posted on the board's website, www.investmentmt.com, by mid-June, he said. No consultant is being used.
Seattle City Employees' Retirement System plans to invest about $40 million in alternative investments and $35 million in real estate. There are no specific mandates or timetables, and all searches will be conducted internally. In alternatives, the $1.2 billion pension fund is collecting information about structured-equity or structured-debt strategies involved in middle-market, non-control buy-ins. The fund also seeks more information about direct or fund-of-funds investments in hedge funds. Also, fund officials are interested in collecting information about timber.