Florida State Board of Administration, Tallahassee, is searching for a master custodian for the Florida Retirement System Public Employees Optional Retirement Program, a $1.4 billion defined contribution plan. Incumbent State Street Bank can rebid, said Michael P. McCauley, director of investment services and communications for the board. The RFP is available from the board; proposals are due Sept. 16.
Ohio State Highway Patrol Retirement System, Columbus, issued an RFP for a manager to run $35 million in either a global TAA or absolute-return global all-cap portfolio. The $600 million system had issued an RFP earlier this year for a hedge fund manager to handle the $35 million; plan officials could still hire a hedge fund-of-funds manager instead, said Richard Curtis, executive director. The global TAA/all-cap RFP is available at www.ohprs.org; proposals are due Sept. 23.
West Springfield (Mass.) Contributory Retirement System is searching for two active domestic large-cap equity managers, said Anne Wojcik, retirement director. Each firm will run $17 million, one in value and one in growth. Chase Investment Counsel now manages the growth portion for the $52 million pension fund, and Systematic Financial Management runs the value portion. The current managers' contracts expire June 30, 2006; Chase and Systematic will be reconsidered. The RFPs are available on Dahab's website, www.dahab.com; proposals are due at 5 p.m. EDT Sept. 30.
City of Marlborough (Mass.) Contributory Retirement System is searching for a private equity fund-of-funds manager for a $5 million commitment, said Eric W. Stewart, a consultant with plan consultant Meketa Investment Group. The commitment would be the $75 million plan's first in private equity. Plan officials are seeking a fund of funds that is diversified by strategy, such as buyouts, venture capital or mezzanine debt, according to the RFP. The RFP is available on Meketa's website at www.meketagroup.com/mgrCenter.php; proposals are due at 5 p.m. EDT Sept. 30.
City of Newport News (Va.) Employees' Retirement System is searching for a core real estate or value-added real estate manager to run $10 million, said Tonya O'Connell, city financial services manager. The plan could hire either a core manager or a value-added manager, or could split the allocation between the two, she said. Officials of the $699 million pension plan want greater diversification. The RFP is available on consultant Dahab Associates Inc.'s website at www.dahab.com; proposals are due at 5 p.m. EDT Oct. 6.
City of Quincy (Mass.) Contributory Retirement System is searching for a diversified private equity fund of funds for a $5 million to $10 million commitment, said Eric W. Stewart, consultant with plan consultant Meketa Investment Group. Officials of the $270 million pension plan want to increase its overall private equity allocation to 5% of assets from 1% for greater diversification. The RFP is available on Meketa's website, www.meketagroup.com/mgrCenter.php. Proposals are due at 5 p.m. EDT Oct. 7.
Texas Employees Retirement System, Austin, is searching for an active domestic small-cap growth equity manager to run $130 million to $140 million, according to Mary Jane Wardlow, spokeswoman for the $21 billion system. No RFP will be issued but interested managers can e-mail [email protected] for more information.
Public Employees Retirement Association of New Mexico, Santa Fe, will issue an RFP by Sept. 30 for at least one manager to run a total of $800 million in active domestic large-cap value equities, said Robert Gish, chief investment officer of the $10.5 billion system. The portfolio is being managed by AllianceBernstein Institutional and MFS Investment, whose contracts expire March 31. Each firm runs $400 million. Both managers may rebid. Callan Associates is assisting.
Arizona State Retirement System, Phoenix, plans to issue an RFP for active domestic midcap growth equity managers to replace Frontier Capital Management, which ran $90.7 million, and Forstmann-Leff Associates, which managed $86 million, said David Cannella, communications manager for the $23 billion fund. No time schedule has been set for issuing the RFP.
Chicago Public School Teachers Pension and Retirement Fund plans to search for minority- and women-owned real estate managers to run a total of $30 million. The $10.8 billion fund plans to conduct the search later this year, said Kevin Huber, executive director. No RFP will be issued. Firms that want to be considered should contact real estate consultant Townsend Group, Mr. Huber said.
