Indiana Public Employees' Retirement Fund, Indianapolis, is searching for a general partner to create and manage a customized fund to invest in a diversified range of venture capital, private equity, buyout, direct debt and other co-investment opportunities. The $13 billion fund seeks to invest through a strategic relationship with a general partner, creating a special fund with Indiana PERF as the sole limited partner. Indiana PERF could invest $200 million in the customized fund, although the amount is still "up in the air," said Jeffry S. Carter, director-external affairs. "We're anxious to see what vendors can come up with" in terms of the allocation and investments of the customized fund, Mr. Carter said. "We are very open on this." Strategic Investment Solutions is assisting. The RFP is available at www.state.in.us/perf; proposals are due March 29.
Massachusetts Housing Finance Agency, Boston, issued an RFP for a firm to conduct actuarial studies of its pension plan liabilities twice annually, according to the retirement system's website. Proposals are due at noon EST on March 31. To request a copy of the RFP, firms should contact John C. Doherty, executive secretary of the retirement board, at [email protected]
Vermont State Retirement Systems, Montpelier, is searching for a firm to review its actuary, Mellon Financial Corp. The systems — the $1.4 billion State Teachers' Retirement System of Vermont, the $1.2 billion Vermont State Employees' Retirement System and the $264 million Vermont Municipal Employees System — are seeking a firm "to provide independent verification and analysis of the assumptions, procedures and methods used by the plans' actuary for valuations as of June 30," according to the RFP. Proposals are due by 2 p.m. EST March 31. Information is available from Donna Holden, contracts administrator, at [email protected]
Oklahoma Public Employees Retirement System, Oklahoma City, issued an RFP for an actuarial consulting firm, according to the $5.6 billion retirement system's website. The RFP can be viewed at www.opers.state.ok.us/pdfs/actrfp06.doc; responses are due by April 3. Incumbent Mercer Human Resources Consulting may rebid.
Stratford (Conn.) Employees' Pension Fund issued an RFP for an active domestic "smidcap" or midcap value equity manager to run $17 million for its $118 million pension fund, said David Lee, consultant for Dahab Associates, who is leading the search. Funding will come from a portfolio managed by Gabelli Asset Management, which is being terminated, said Mr. Lee; he declined to provide details. Patty-Lynn Ryan, assistant finance director, did not return calls by press time. The RFP is available on Dahab's website, www.dahab.com. Proposals are due April 5.
Alabama Prepaid Affordable College Tuition Program, Mobile, issued an RFP for an active international equity manager to handle about $48 million for the $674 million 529 plan. The RFP is due April 10 and can be found at www.treasury.alabama.gov. Qualified candidates must manage at least $300 million in active international equity separate accounts with at least three years of experience in handling active international equity portfolios. Callan Associates is assisting. Anthony Leigh, the state's deputy treasurer, did not return calls by press time.
Irish National Pensions Reserve Fund, Dublin, is searching for passive and "index-plus" equity managers, said Eugene O'Callaghan, head of the investment management program at the $18.5 billion fund. Mr. O'Callaghan said fund officials decided late last year to retender its $6 billion passive equity portfolio to give the fund greater operational flexibility. The size of the portfolios or the number of managers to be hired has not been decided, Mr. O'Callaghan said. About $3 billion will go to passive eurozone and various global equity mandates, including ex-eurozone, U.S. and Asia. The remaining $3 billion will go to managers that can provide a layer of return over various global indexes. Current managers Barclays Global Investors and a joint venture between State Street Global Advisors and Bank of Ireland Asset Management are welcome to bid. The RFP is on the fund's website at www.nprf.ie; proposals are due April 21.
The Merseyside Pension Fund, Liverpool, England, is searching for a manager to run an active £100 million ($172.66 million) European ex-U.K. equity portfolio, said Peter Wallach, compliance and strategy manager at the £3.8 billion fund. Funding comes from a £160 million active pan-European equity portfolio managed by Wellington Management; the firm can rebid. The move is part of an overall portfolio restructuring that reduces U.K. equity exposure to 31% from 36% of assets. The RFP is available from consultant bfinance at [email protected] or Www.bfinance.co.uk. Proposals are due April 24.
