Maryland State Retirement and Pension System, Baltimore, is searching for a manager of managers to help develop and run an emerging manager program, confirmed spokeswoman Anne Budowski. The firm would conduct searches and select managers, which it would oversee, including portfolio monitoring, performance measurement and reporting, as well as provide custody and record keeping.
The program could receive as much as 1% of the $34.5 billion pension plan's total assets, Ms. Budowski said. System officials want to add the program for diversification. A source of funding hasn't been identified.
The RFP is available by contacting Victoria Willard, the plan's procurement officer, via e-mail at [email protected] Proposals are due by 4 p.m. EDT June 28. There is no specific timeframe for making a selection.
The fund is not using a consultant to assist with the search.