Los Angeles County Employees Retirement Association, Pasadena, Calif., issued an RFP for private equity consultants to provide independent monitoring and performance reporting for the fund’s $5.5 billion private equity portfolio, according to the RFP. Officials at the $37.6 billion fund are seeking non-discretionary advisory services for buyout fund investments of more than $3 billion each and for its venture capital investments of more than $500 million each, and discretionary advisory services for smaller commitments. Christopher J. Wagner, senior investment officer, private equity, did not return calls seeking further information. The RFP is available on the association’s website at www.lacera.com. Responses are due March 7. Separately, the system issued an RFP for securities lending services, said Juan Almaguer, principal investment officer, public markets. Lendable assets are the association’s $3.7 billion corporate bond and $2.5 billion domestic equity portfolios, he said. Incumbent Goldman Sachs’ contract is expiring in the second quarter; the firm was invited to rebid. The RFP is located on the association’s website at www.lacera.com. Proposals are due March 9.
Indiana Public Employees’ Retirement Fund, Indianapolis, issued an RFP for a cash overlay manager for up to $200 million, to bring the cash exposure of the $16.1 billion fund closer in line with its strategic investment allocation, according to Jeffrey D. Hutson, director of communications. It would be the fund’s first cash overlay, Mr. Hutson said. The overlay would involve cash held as part of equity and fixed-income investment management processes, as well as cash held by the fund to meet commitments for private equity and real estate capital calls and benefit payments, according to the RFP. The fund wants to hire the overlay manager “to improve performance on cash,” Mr. Hutson said. The fund’s allocation targets are 40% domestic equity, 15% each in core fixed income and international equity, 10% global equity, 8% private equity, 5% TIPS, 3% real estate, and 2% each to commodities and absolute return. The RFP is available on the fund’s website, www.state.in.us/perf. Proposals are due March 16.
Montana Board of Investments, Helena, issued an RFP for active domestic large-cap equity managers to run about $75 million each, confirmed Devin Garrity, procurement officer. Mr. Garrity was not able to say how many managers would be chosen. The $7.6 billion fund is looking for “active style-based growth and value long-only strategies and partial long-short strategies,” according to the RFP. Consultant R.V. Kuhns is assisting. Mr. Garrity said the move is being made for diversification. Neither CIO Clifford Sheets nor Executive Director Carroll South was available to provide further details at press time. The RFP is available at http://gsd.mt.gov/business/pdfdownloads/
RFP07-1478D.DOC. Proposals are due by 2 p.m. MDT March 16.
Atlanta Public Schools issued an RFP for a bundled provider for a new 457 plan. Jeff Thomas, vice president of risk management, did not return calls seeking more information. The school district also has a 403(b) plan with $142 million in assets. The RFP is on the plan’s website at www.atlanta.k12.ga.us/content/purchasing/457Deferred_Comp_Plan.
pdf. Proposals are due March 16.
Oklahoma Public Employees Retirement System, Oklahoma City, issued an RFP for an investment consultant. Incumbent Strategic Investment Solutions will be invited to rebid, said Tom Spencer, executive director of the $6 billion fund. The RFP is available on the plan’s website at www.opers.state.ok.us/pdfs/icrfp207.doc. Proposals are due by 5 p.m. CDT March 16.
New Mexico Educational Retirement Board, Santa Fe, will issue an RFI for the $8.9 billion fund’s first real estate consultant, said Steve Neel, investment officer for alternative investments. New England Pension Consultants, the board’s general consultant, is assisting. The board made an initial 15% target allocation to the asset class, but its current exposure is limited to $472 million in real estate investment trusts. The RFI will be posted at www.nmerb.org. Responses are due March 19.
Plymouth (Mass.) County Retirement System is searching for either an active or passive domestic small-cap value equity manager to run $55 million, said Bill Farmer, executive director of the $600 million fund. Funding will come from an active domestic small-cap core strategy run by Columbia Management, which can bid on the value RFP. Fund executives decided to add a value strategy. The RFP is available on consultant Wainwright Investment Counsel’s website at www.winvcounsel.com/rfp.html. Proposals are due by 2 p.m. EDT March 21.
Overland Park (Kan.) Police Department Retirement Plan issued an RFP for an active domestic large-cap growth equity manager to run $5 million to $8 million. David Lee, director of manager research for Dahab Associates, the $43 million plan’s consultant, said funding would come from a general rebalancing. The plan now has $5 million committed to large-cap growth. Mike Russo, manager of retirement plans, was not available for comment. The RFP is available on Dahab’s website at http://dahab.com/searches.html. Proposals are due at 5 p.m. EDT March 23.
