Wisconsin State Investment Board, Madison, is searching for a consultant to provide monitoring and performance reporting services for its $1.8 billion real estate portfolio, said Vicki Hearing, spokeswoman for the $70 billion fund. Incumbent Russell Investment Group's contract expires April 1. Russell isn't rebidding because it is exiting from such limited consulting work, said Christopher J. Phillips, manager-public relations. The RFP is available at www.swib.state.wi.us. Deadline for proposals is Feb. 7.
Iowa Public Employees' Retirement System, Des Moines, is searching for an actuarial consultant. Milliman USA is the incumbent. The $17.3 billion system is conducting the search "as part of our fiduciary duty to review all services on a regular basis," according to the RFP, which is available at www.ipers.org/rfp. Proposals are due Feb. 11.
Illinois Office of Management and Budget, Springfield, is searching for actuarial consultants to analyze the five state retirement systems, with a combined $55 billion in assets, and make recommendations to improve the affordability of the systems. The OMB could hire more than one firm, according to the RFP. The assignment includes assisting the Governor's Pension Commission in evaluating the systems' effect on Illinois' current and future financial condition, including economic factors and rates of return. The RFP is available at the OMB's website at www.state.il.us/budget. Proposals are due Feb. 15.
Swampscott (Mass.) Contributory Retirement System issued an RFP for an active domestic large-cap value equities manager to run $5.7 million. The portfolio is now managed by Fox Asset Management, said Richard DiPesa, retirement administrator for the $29 million system. RFPs are available from Rosemary Guillette at investment consultant Segal Advisors at [email protected]; proposals are due Feb. 17.
Lothian Pension Scheme, Edinburgh, issued RFPs 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; further information was not available. The RFPs are available on the website of the Official Journal of the European Community at www.ojec.com. Proposals for both searches are due Feb. 25; Ms. McKenna could not specify a timeframe for completion. Hymans Robertson is assisting.
Anniston (Ala.) Policemen's and Firemen's Retirement Fund is searching for a large-cap value equity manager to run about $4 million, said Alan Atkinson, city clerk and secretary of the pension board. The $24.5 million fund will replace SouthTrust because of performance and the firm's recent merger with Wachovia Corp., he said. Dan Flaherty, spokesman for Evergreen, Wachovia's management arm, declined comment. The RFP is available on consultant Dahab Associates' website at www.dahab.com. Proposals are due Feb. 28.
Chicago Public School Teachers' Pension and Retirement Fund will seek two managers to run $5 million each in private equity, said Kevin Huber, chief financial officer and acting executive director. The $10.3 billion fund will not issue an RFP, but interested firms should contact Mercer Investment Consulting through the end of February, he said. Interviews will be scheduled for early in the second quarter.
Washington State Investment Board, Olympia, will search for a private equity consultant, said spokeswoman Liz Mendizabal in an e-mail. Current consultant Pacific Corporate Group, whose contract expires Dec. 31, is eligible to re-bid. An RFP will be posted on the $61.2 billion board's website, www.sib.wa.gov, on Feb.15. Proposals are provisionally due March 25; the deadline could change when the RFP is published.
Massachusetts Pension Reserves Investment Management Board will issue an RFP for general and hedge fund consulting services. The $36 billion fund's current general consultant, Wilshire Associates, and hedge fund consultant, New England Pension Consultants, can rebid. According to staff, the system could end up hiring two consultants or one consultant to take on both jobs.
State of Illinois Employees' Deferred Compensation Plan, Springfield, plans to search for a general retainer consultant to assist in reviewing investment managers and policies for the $2 billion fund, among other duties, said William Atwood, executive director, Illinois State Board of Investment, Chicago, a fiduciary to the plan. The fund has used consultants only for single projects, and wants to hire for a long-term relationship, he said.
