Municipality of Anchorage, Alaska, issued an RFP for an investment consultant for its $150 million 457 plan and $125 million trust fund, said Daniel Moore, treasurer. The municipality is required to conduct a consultant search every five years, Mr. Moore said; incumbent Callan Associates can rebid. The RFP is available through the municipality purchasing office at 907-343-4590. Responses are due April 15; a selection might be made by the end of April, with a new contract to begin by mid-May.
Melrose (Mass.) Contributory Retirement System is searching for an active domestic large-cap growth equity manager to run $8 million, said Kevin Leonard, the Segal Advisors consultant assisting the $49 million plan. Proposals are due April 22 and are available from Rosemary Guillette at [email protected]
Salem (Mass.) Contributory Retirement System issued an RFP for an active small-cap growth equities manager to run $4 million, said Kevin Leonard, the Segal Advisors' consultant who is assisting the $71 million system. Proposals are due April 22 and are available from Rosemary Guillette at [email protected]
Chicopee (Mass.) Contributory Retirement System is searching for its first active small-cap value equity manager, which will run $5.5 million, said Kevin Leonard of consultant Segal Advisors. Funding will come from rebalancing and cutting back the $112 million system's allocation to its existing small-cap equities manager, which Mr. Leonard would not identify. RFPs may be obtained from Christopher Tehranian at [email protected] and responses are due April 27.
Hampden County Board of Retirement, Springfield, Mass., is searching for a private real estate manager to run $9 million, said Kevin Leonard, the Segal Advisors consultant who is assisting the $175 million system. RFPs are due by April 29 and may be obtained from Christopher Tehranian via e-mail at [email protected]
Ohio Police & Fire Pension Fund, Columbus, issued separate RFPs for a general consultant and a hedge fund specialist consultant for the $8.8 billion system. The general consultant will help with general investment policy and procedures, an asset allocation plan, specific requests for policy analysis and other services. Incumbent Wilshire can rebid. The specialist consultant, the system's first, will provide hedge fund strategy analysis, strategy structure, sourcing, due diligence and selection of hedge funds of funds. Proposals are due at 3 p.m. EDT April 30 and are available at the plan's website, www.op-f.org.
Oklahoma Firefighters' Pension & Retirement System, Oklahoma City, reissued an RFP for a value-added real estate manager to run $25 million for the $1.4 billion system, said Herb Bradshaw, assistant director. Trustees decided to launch the new search because the original RFP did not yield enough responses from managers in the style, he said. The funding source has not been determined, he said. The RFP is posted on the system's website, www.okfirepen.state.ok.us.
Illinois State Universities Retirement System, Champaign, will search for an unspecified number of real estate managers as a result of raising its target allocation to 7% from 2% of plan assets. Officials for the $12.7 billion pension fund plan to work with consultant Ennis Knupp to develop a list of possible commingled real estate fund managers later this year, said John R. Krimmel, SURS chief investment officer. Managers that seek to be included should contact Ennis Knupp, he said. No timetable has been set.
Los Angeles Water & Power Employees' Retirement Plan approved issuing an RFI for a custodial bank, said Sangeeta Bhatia, assistant retirement plan manager. Incumbent custodian Bank of New York can rebid. Ms. Bhatia did not provide further details.
Kansas Public Employees Retirement System, Topeka, will likely begin an asset-liability study this summer, after choosing a consultant, said Glenn Deck, executive director. Trustees interviewed Ennis Knupp and incumbent Pension Consulting Alliance in their search for a general consultant, Mr. Deck said. PCA has been with the $10.4 billion system for five years, and trustees like to periodically review all service providers, he said. A selection could be made "fairly shortly," he said.
Farmington Hills (Mich.) Employees Retirement System might add a real estate allocation, said Bill Benton, chairman. Trustees for the $93 million plan are informally discussing the possibility of committing to the asset class for diversification, Mr. Benton said. A timeframe has not been set. Merrill Lynch is assisting. The current allocation is 67% equity, 27% fixed income and 6% cash.