Wisconsin State Investment Board, Madison, is searching for a private equity consultant. The $70.6 billion board has $1.8 billion in private equity and another $1 billion in uncalled commitments. The RFP is available at www.swib.state.wi.us; proposals are due July 12. Incumbent consultant Pathway Capital's contract expires Oct. 1; it can rebid, said Vicki Hearing, public information official.
Louisiana Municipal Police Employees' Retirement System, Baton Rouge, issued an RFP for at least one value-added real estate manager to run a total of $35 million. The $1.2 billion plan increased its real estate target to 10% from 6%, and trustees want the new firm to complement a $70 million internally managed open-end core diversified real estate portfolio, said Dan Holmes, managing director of Summit Strategies, the plan's consultant. The RFP is available at Summit Strategies' website, www.summitstrategies.com. Proposals are due July 19.
Lynn (Mass.) Contributory Retirement System is searching for an active international equity manager to run $7 million, said Kevin Leonard, the Segal Advisors consultant who is assisting. The $160 million plan is terminating the portfolio's current manager, Jarislowsky Fraser, because of performance and personnel turnover, said Gary Brenner, the plan's executive secretary. RFPs are available from Rosemary Guillette at [email protected], and proposals are due July 27. The system hopes to make a selection by August, Mr. Brenner said. Greg Reid, client contact at Jarislowsky Fraser, did not return a call for comment by press time.
Los Angeles County Employees Retirement Association, Pasadena, Calif., issued RFPs in its search for three active fixed-income managers to run about $50 million each for its emerging manager program, said Juan M. Almaguer, principal investment officer, fixed income. One firm will run an active high-yield portfolio; one, active enhanced core; and the third, core. The RFP is on the fund's website, at www.lacera.com, he said. Proposals are due Aug. 13.
Illinois State Board of Investment, Chicago, will issue an RFP in the next few weeks for one or more active domestic large-cap growth equity managers to run at least $325 million, said William Atwood, executive director of the $10.3 billion system. The board also plans to search for real estate managers to invest some $600 million over the next two years, $540 million to core and lower-risk commingled funds and $60 million to real estate managers investing in Illinois through separate accounts. Townsend, the board's real estate consultant, will initially screen incumbent commingled managers RREEF, J.P. Morgan Fleming and PRISA for investment opportunities to present to the board's trustees, possibly later in summer. Townsend will then broaden the search to other firms.
Nevada State General Fund, Las Vegas, will issue an RFP in August for a firm to handle securities lending services for its $1.4 billion in assets, said Kathy Besser, chief of staff. The four-year contract of incumbent Metropolitan West expires Nov. 30; MetWest can rebid, Ms. Besser said. The RFP will be posted in mid- to late August on the state treasurer's website, http://nevadatreasurer.org. Responses will be due in mid-September; further details have not been determined. Fund officials will not use a consultant.
Indiana State Teachers' Retirement Fund, Indianapolis, is reviewing its asset allocation, said Robert D. Newland, deputy director of investments. The $6.7 billion system conducted its last review in 2002. Its current allocation is 40% fixed income, 35% domestic equities, 15% international equities, and 5% each in real estate and private equity. Callan Associates is assisting. Mr. Newland would not say when the review would be completed or if it might lead to changes in the system's manager lineup.
Madison Newspapers Inc., Madison, Wis., will begin the annual review of its $30 million 401(k) plan this month, said Debra Reed, director-human resources. Trustees will review the plan's 10 investment options and identify any style gaps, Ms. Reed said. The plan has no midcap equity fund, she said. The review could take two months.
Georgia Peace Officers' Annuity and Benefit Fund, Griffin, is conducting an asset-liability study of the $360 million system, said Bob Carter, executive director. The study is conducted every two years and changes are likely, Mr. Carter said. Results are expected by October. Mellon Human Resource Consulting is assisting.
Iowa Municipal Fire & Police Retirement System, Urbandale, will undertake an asset allocation study of its $1.3 billion fund. Summit Strategies, its new general consultant, will conduct the study, said Dennis L. Jacobs, executive director and chief investment officer. Summit replaced Wilshire Associates. The board's allocation is 30% fixed income, including five percentage points in high yield; 30% U.S. equities; 20% international equities; and 10% each in real estate and private equity. The study should be completed in the next few months.