Lothian Pension Scheme, Edinburgh, is searching for an active global equities manager to run £180 million ($338 million) and an active European (ex-U.K.) equities manager to run £172 million, said Catriona McKenna, city council communications officer. European (ex-U.K.) equity managers Bank of Ireland and BlackRock currently manage £78 million and £94 million, respectively, for the £2 billion fund; their contracts will expire shortly; both were invited to rebid. Bank of Ireland also runs the global equities portfolio and can rebid for that mandate. The search is being conducted in part because of organizational changes at Bank of Ireland. Ms. McKenna could not specify a timeframe for a selection.
Hymans Robertson is assisting.