State of Tennessee Deferred Compensation Program, Nashville, is searching for a firm to provide third-party administration and record-keeping services for its $699 million 401(k) plan and $138 million 457 plan, confirmed Deana Hannah, director of deferred compensation. The contract of incumbent Great-West Retirement Services is set to expire Dec. 31; the firm will be reconsidered. The RFP is available on the Tennessee Department of Finance & Administration website at www.state.tn.us/finance/rds/ocr/rfp.html, and proposals are due Nov. 23.
Employees Retirement System of Texas, Austin, is searching for at least one active international equity manager to run up to $1.4 billion, confirmed Mary Jane Wardlow, spokeswoman for the $21 billion fund. The portfolio's previous manager, DuPont Capital Management, is being terminated by mutual agreement, Ms. Wardlow said; the termination is not related to performance, but she declined further comment. The mandate is not fully discretionary, according to the RFP. The RFP is available via e-mail to [email protected] Questions should be directed to Vince Smith, director of international equity, at [email protected] or by telephone at (512) 867-7355. Proposals are due at 4 p.m. CST Nov. 30.
State-Boston Retirement System is searching for at least one manager to run up to a total of $60 million in value-added real estate, said Glenn M. Johnson, a consultant with New England Pension Consultants, the $3.6 billion plan's consultant. The allocation is new and no manager is being terminated; assets will come from rebalancing. Interested managers must have at least $500 million in real estate assets under management as of Sept. 30 and at least two existing public fund clients. Formal requests for RFPs should be emailed to [email protected] no later than 5 p.m. EST Nov. 16; proposals are due at 4 p.m. Nov. 30 to Mr. Johnson at [email protected] or by mail at New England Pension Consultants, 1 Main St., Cambridge, MA 02142.
Iowa Municipal Fire & Police Retirement System, Urbandale, is searching for a global tactical fixed-income manager to run about $50 million, said Dennis L. Jacobs, executive director and chief investment officer for the $1.4 billion fund. The board is seeking to diversify opportunities by moving to a new fixed-income strategy, he said. Managers may contact Mr. Jacobs to obtain the RFP. Summit Strategies, the system's consultant, issued RFPs to a shortlist of managers, but the system will also consider other managers. Proposals are due Nov. 30.
Danville (Va.) Regional Foundation is searching for managers to run $40 million in domestic fixed income, $20 million in active international equities and $10 million in a real estate property fund, said Barry Bryant, consultant with investment consultant Dahab Associates. The fixed-income portfolio will probably be passive and benchmarked to the Lehman Aggregate Bond index. The international equity mandate will probably be a commingled fund that is either style neutral or a fund that can change styles, and the real estate investment will likely be a core or core-plus commingled fund. The three RFPs are available on Dahab's website at www.dahab.com. Proposals for the fixed-income, international equity and real estate searches are due Nov. 30, Dec. 7 and Jan. 10, respectively.
New Haven (Conn.) City Employees Retirement Fund issued an RFP for a core and/or value-added real estate manager to run up to $10 million for the $193 million pension fund, said Glenn Johnson, senior consultant for New England Pension Consultants. To be considered, a firm must have at least $500 million in real estate assets under management and at least three public fund clients in the strategy, Mr. Johnson said. The RFP is available by e-mailing [email protected] by Nov. 18. Proposals are due Dec. 2.
Teachers' Retirement System of Illinois, Springfield, is searching for general investment and specialist private equity consultants, said Stan Rupnik, chief investment officer of the $34 billion system. Incumbent Callan's general consulting contract is up at the end of the year, he said; the firm may rebid. Mr. Rupnik said the system wants a specialized private equity consultant as its allocation to the asset class increases in size and complexity. RFPs for both searches are available on the plan's website, trs.illinois.gov. The system also soon will search for managers for two fixed-income allocations — $800 million in active domestic core plus and $600 million in domestic enhanced index. Consultant Gordon Dickinson of the Chicago office of Callan Associates will conduct the searches.