Peoria (Ill.) Firemen's Pension Fund is conducting a shortlist search for active domestic large-cap growth and value equity managers, said Reginald A. Willis, city treasurer and a trustee of the $99 million plan. Plan officials are "trying to spread out our base a bit," Mr. Willis said. The size of the mandates has not been determined.
Funding will come from a general rebalancing; plan officials have not determined whether any managers will be terminated, Mr. Willis said.
The fund has two large-cap core managers already - Mesirow Financial Investment Management, which runs $10.8 million, and JPMorgan Asset Management, $9.5 million. He noted manager selections might not be made until after the first of the year.
Consultant Wachovia Securities is assisting, Mr. Willis said.