Indiana State Teachers' Retirement Fund, Indianapolis, issued an RFI for an active domestic large-cap value equity manager to run $60 million. The $4 billion pension plan will consider both fundamental and quantitative managers. Barrow, Hanley, Mewhinney and Strauss currently manages the portfolio, taking it over temporarily from Pacific Financial Research after three principals left the firm. Old Mutual owns both companies. Barrow Hanley will be permitted to bid, said Robert D. Newland, the fund's deputy director and CIO.
The RFI is available at the Indiana fund's website, www.in.gov/trf. The deadline for managers to declare their interest is Dec. 9, and managers that aren't already included in Callan's database must submit information to the consultant by Dec. 23. Semifinalists will be sent an RFP on Jan. 23, and fund officials expect to make a decision on selection by March 1.