Ohio Public Employees Retirement System, Columbus, issued RFIs for two active emerging markets equity managers to handle a total of $100 million to $300 million, and for two international equity managers to run a total of $300 million to $600 million. Fund officials want to diversify the fund's $3 billion international equity portfolio, said Michelle Kowalik, spokeswoman.
The $64.5 billion fund has one international growth equity manager, AllianceBernstein, and system officials wanted to add a value manager for diversification. The fund has three emerging markets equity managers: AllianceBernstein, Boston Co. Asset Management and Bank of Ireland Asset Management. Ms. Kowalik did not immediately know how much in assets each manager handles. Two emerging markets managers have closed their strategies to additional investments, but Ms. Kowalik did not immediately know the firms. "We believe capacity concerns will continue with respect to emerging markets, so we decided to search for an additional manager," said Ms. Kowalik. Funding for the new portfolios would come from redistributing assets in the international equity portfolio. No managers will be terminated, she added.
The RFIs are available at www.opers.org/aboutOPERS/RFPs/index.shtml. Proposals are due July 15, and fund officials plan to make selections in September or October, Ms. Kowalik said.