Woburn (Mass.) Contributory Retirement System issued an RFP for a manager to run $4.8 million in active domestic high-yield fixed income, according to a source at plan consultant Wainwright Investment Counsel who asked not to be named The $94 million pension fund has the money in a high-yield mutual fund, but plan officials are considering replacing the manager for organizational reasons; further information was not available by press time. According to the Money Market Directory, the fund's fixed-income managers are Babson Capital and Wellington. The RFP is available on Wainwright's website at www.winvcounsel.com. Proposals are due at noon EDT Aug. 29. Maureen Marcucci, Woburn retirement administrator, referred all questions to Wainwright.
Calvert County Retirement System, Prince Frederick, Md., is searching for a domestic large-cap value equity manager for the county's $31 million Employees Retirement Plan and the $26 million Sheriffs & Correctional Officers Retirement Plan, said Don Ross, managing director with plan consultant Wainwright Investment Counsel. The manager, which could be active or passive, will run about $4.6 million for the employees' plan and $3.9 million for the sheriffs' plan. Incumbent Legg Mason, which both plans now use, may rebid. Wainwright is issuing a single RFP for the two plans, which is available on the consultant's website at www.winvcounsel.com. Proposals are due Sept. 2.
Holyoke (Mass.) Retirement System is searching for its first emerging markets equity manager to run about $2 million. RFPs may be obtained from Brian Keenan of Segal Advisors at [email protected] Proposals are due Sept. 7. Officials at the $153 million fund want to diversify the system's asset allocation, said Cheryl Dugre, assistant executive director. Funding will come from rebalancing.
Louisiana School Employees' Retirement System, Baton Rouge, will search for a diversified core real estate fund for a $45 million investment, said Julia LeBlanc, chief investment officer. This will be the $1.5 billion pension fund's first investment in a real estate fund. Plan officials want to further diversify the system's investments, she said. The RFP will be available Aug. 22 on the retirement system's website at www.lsers.state.la.us. Proposals are due Sept. 13. Segal Advisors is assisting.
Massachusetts Housing Finance Agency Retirement System, Boston, is searching for a manager to run $3 million in a diversified private equity fund of funds. The system has a $2 million investment in venture capital, but "we wanted to get into other areas of private equity, and to expand our allocation," said John Doherty, executive secretary of the $54 million fund. Funding will come from rebalancing equity investments. RFPs are available from Meketa Investment Group, the system's consultant. Proposals are due Sept. 16.
Fall River (Mass.) Retirement Board is searching for a private equity manager to run $10 million in a diversified fund of funds, according to an announcement on the Massachusetts Public Pension Forum's website, www.mppf.org. The RFP may be obtained by e-mailing Alison Marelli, private equity analyst at The Meketa Investment Group, at [email protected] Proposals are due Sept. 16. Christine Tetreault, executive director and secretary of the $200 million pension fund, could not be reached for comment. Ms. Marelli said Meketa's policy is not to speak with the press.
Danville (Va.) Employees' Retirement System, with $175 million in assets, is searching for a firm to run about $15 million in large-cap value equities, according to the RFP. Nancy H. Warren, retirement system coordinator, referred all questions to Richard E. Dahab, president of consultant Dahab Associates. Mr. Dahab did not return a call by press time. The RFP is available on Dahab Associates' website at www.dahab.com. Proposals are due Sept. 30.
California Public Employees' Retirement System, Sacramento, will issue an RFP for two rosters of approved managers of active international equity, one for developed markets and the other, emerging markets, given weak response to a general international equity manager earlier this year. The board of the $197.5 billion CalPERS on Aug. 15 approved its staff recommendation to create the manager pools after the plan received only 30 bids for active all-world ex-U.S. portfolios in the previous search, with many of the managers not qualified. The new pools will complement enhanced index international equity and active international equity manager pools that were approved by the CalPERS board in April. The fund's existing emerging markets managers will automatically be included. The portfolio sizes were not specified because staff won't immediately optimize the international equity portfolio.