Los Angeles City Employees' Retirement System issued an RFP for master custodian and securities lending provider, said Wayne Ige, investment officer. It is the $9.9 billion system's policy to seek bids after six years with the same provider. Incumbent Northern Trust's contract was set to expire July 31, but the board extended the contract for a year. Northern Trust is eligible to rebid. The RFP is on the fund's website at www.lacers.org. Proposals are due Oct. 10, with interviews and a selection expected in the first quarter of 2007.
Louisiana Department of Treasury, Baton Rouge, issued an RFP for a custodian for its $1.1 billion Louisiana Education Quality Trust Fund, confirmed John Broussard, CIO. Incumbent Capital One Bank, whose contract expires Dec. 31, was invited to re-bid. No consultant is assisting. The RFP is available at www.treasury.state.la.us. Proposals are due Oct. 13, and the contract will be awarded Nov. 10.
The San Francisco City and County Employees' Retirement System is seeking information about investment risk management consulting services. The RFI is available at www.sfgov.org/site/uploadedfiles/sfers/RFI-Risk-Management-092806.pdf. Responses are due Oct. 13, and based on those responses, officials of the $14.7 billion system will determine whether to issue an RFP.
The Worcester (Mass.) Regional Retirement System is searching for a manager to run $18 million in a hedge fund of funds, confirmed Michael Donoghue, chairman and CEO. Officials of the $370 million plan are making their first hedge fund investment for diversification; funding will likely come from a general redistribution of assets. The RFP is available by e-mailing Rosemary Guillette, senior financial analyst at Segal Advisors, the plan's consultant, at [email protected] Proposals are due 3 p.m. EDT Oct. 17, and plan officials hope to make a selection by Jan. 1.
The Cambridgeshire County Council Pension Fund, Cambridge, England, is searching for one or two managers to run a pure-alpha currency strategy with nominal assets of about £30 million ($59 million), said John Hopwood, chief loans and investment officer. The £1.25 billion pension fund is making its first advance into high-return currency strategies for diversification, Mr. Hopwood said. The RFP is available from investment consultant Hymans Robertson. Proposals are due Oct. 19, and fund officials plan to make a selection by January.
The Oregon state treasurer's office is searching for a private equity investment consultant to advise the Oregon Growth Account, which earns returns to benefit higher education in the state by investing in Oregon-based emerging growth businesses. The incumbent is CTC Consulting. The growth account board began making investment commitments in 1999 and had committed $65 million in capital as of Sept. 5. The RFP is available at www.ost.state.or.us/news/RFP/index.htm. Proposals are due by 4 p.m. PDT Oct. 23, and finalists will be selected by Nov. 17.
Pennsylvania Municipal Retirement System, Harrisburg, is searching for a manager to run $50 million in active international growth equities, confirmed David Lee, director of manager research and principal with consultant Dahab Associates. Fund officials are adding the allocation for diversification, he said. Funding will come from a general rebalancing. James Allen, secretary for the $1.4 billion pension plan, was not available at press time for comment. The RFP is available on Dahab Associates' website at www.dahab.com/searches.html. Proposals are due by 5 p.m. EDT Oct. 27, with final presentations slated for mid-November.
The Colorado Public Employees' Retirement Association, Denver, is searching for an actuarial consultant, according to the plan's website. The firm would perform annual pension fund valuations and related pension consulting services under a five-year contract beginning Jan. 1. The contract for Buck Consultants, the $36 billion system's current actuary, will expire Dec. 31, said Katie Kaufmanis, PERA spokeswoman. Buck is eligible to rebid. The RFP is available at http://copera.org/PERA/about/latestnews.stm#RFP. Proposals are due by 4 p.m. Oct. 30. No time for a selection was given.
The Warwickshire County Council Pension Fund, Warwick, England, is searching for two managers — one to run a £50 million ($94 million) in a hedge fund of funds and one to handle £50 million in active real estate, Phil Triggs, pension fund manager, said. The £900 million scheme's first foray into alternative investments could lead to "further decisions down the line," he said. "We needed to further diversify and reduce volatility." Funding is likely to come from reducing the fund's 75% equity allocation, Mr. Triggs said. The rest of the plans' assets is in bonds. State Street Global Advisors and Threadneedle Asset Management each run £237 million in active equities for the fund, while Barclays Global Investors runs £200 million in passive equities. Plan officials have not decided which portfolio will be reduced. Proposals for both mandates are due Nov. 6, with selections expected by March 2007. Additional information is available from the fund's investment consultant, Mercer Investment Consulting, at www.merceric.com.