Public Employees Retirement Association of New Mexico, Santa Fe, extended the due dates for proposals to Feb. 23 from Feb. 16 in searches for up to four active equity managers, according to notices on the $12.5 billion fund's website. The extensions are for the following searches: a manager to run $500 million in international core; one to run $500 million in international growth; and one or two firms to run a total of $500 million in small-cap developed markets. The RFPs are available on the association's website at www.pera.state.nm.us. The reason for the extensions could not be learned by press time.
The system's current international equity managers are Capital Guardian, which runs $1.3 billion in active core; JPMorgan Asset Management, $600 million in active growth; and AllianceBernstein, $500 million in active emerging markets and $1 billion in passive EAFE. Each of the incumbents has been invited to rebid. Fund officials have not determined which portfolios will be reduced or terminated.