New Bedford (Mass.) City Retirement System is searching for a private equity fund of funds manager to run $4 million. The $164 million system wants to diversify its private equity portfolio, said Kevin Leonard, the Segal Advisors consultant who is assisting. Proposals are due Feb. 12 and are available from Christopher Tehranian at [email protected]
Illinois State Board of Investment, Chicago, is searching for at least one manager to run a total of $900 million in active domestic large-cap value equities, said William Atwood, executive director of the $9.5 billion fund. The board also is searching for a global custodian, securities lending firm and a manager for $4.9 billion in index fund assets, said Mr. Atwood. Incumbent Northern Trust, which handles all three jobs, will be invited to rebid. RFPs for all of the searches are available from Marquette Associates.
Taunton (Mass.) Contributory Retirement System issued an RFP for an open-end or closed-end real estate manager to run $2.5 million, said Kevin Leonard, the Segal Advisors consultant who is assisting. The search is part of the $130 million system's effort to diversify its real estate portfolio. Proposals are due March 4.. RFPs may be obtained from Christopher Tehranian at [email protected]
Worcester (Mass.) Regional Contributory Retirement System issued an RFP for an active international equities manager to handle $30 million, said Kevin Leonard, the Segal Advisors consultant who is assisting the $303 million system. Proposals are due March 8. RFPs may be obtained from Rosemary Guillette at [email protected]
Florida State Board of Administration, Tallahassee, is searching for at least one active domestic all-cap equity manager, a new strategy for its $101 billion pension fund, said Mike McCauley, director of investment services and communications. The allocation has not been determined. Interested managers may contact Callan for inclusion in its database.
Indiana Public Employees' Retirement Fund, Indianapolis, issued an RFP for a firm to provide banking services for administrative and benefit operations for the $10.1 billion pension fund. Incumbents Bank One and National City Bank will be invited to rebid, said Patrick Lane, communications director. Only institutions listed on the official depository list of the Indiana Board for Depositories and have an office in Indianapolis are invited to respond to the RFP. The list includes some banks based outside the state. The RFP is available at www.state.in.us/perf. Proposals are due at 3 p.m. EST March 2.
Massachusetts Pension Reserves Investment Management Board, Boston, will issue an RFP for an international developed markets equities manager to handle $1.1 billion. Previous manager Putnam Investments was terminated by the $32 billion system late last year; the money has been parked in an international equity index fund managed by State Street Global Advisors.
San Bernardino (Calif.) County Employees' Retirement Association is expected to issue an RFP this week for a manager to run a $160 million hedge fund portfolio, a new asset class for the $3.2 billion fund, said Don Pierce, investment officer. No managers will be terminated, he said.
Ohio Retirement Study Council plans to issue a new RFP later this month for an auditor to perform top-to-bottom reviews of the $48.5 billion Ohio State Teachers Retirement System and the $8.1 billion Ohio Police and Fire Pension Board, both in Columbus, said Aristotle Hutras, council director. The council, which oversees the state's five pension funds, had searched for an auditor last year, but Mr. Hutras reissued the RFP "to clarify the scope … and combine both projects, the police and fire and state teachers." Firms that had responded to the original RFP may rebid, he said.
Pension Benefit Guaranty Corp., Washington, plans to issue RFPs for active fixed-income managers to run assets being moved from the agency's equity portfolio as part of a new investment policy, said Steven A. Kandarian, executive director. Mr. Kandarian could not say how much the new managers will handle or when it hopes to hire new firms. Wellington Management and PIMCO are the current fixed-income managers; the two firms can bid on the new mandates.
Jacksonville (Fla.) Fire & Police Pension Fund will issue an RFP by the first week of April for an active international equities manager to run $50 million, said John Keane, executive director-administrator. The $868 million plan in November terminated the portfolio's previous manager, Putnam, and temporarily moved the money to a Northern Trust EAFE index account. Trustees decided to return to active management, Mr. Keane said. The RFP will be posted under the "procurement" and "professional services" links on the city's website, www.coj.net. Responses will be due within 21 days. Merrill Lynch will assist.