Pennsylvania Municipal Retirement System, Harrisburg, is searching for an active domestic small-cap value equity manager to run $80 million, confirmed Reynold Witmer, chief-accounting division. The $1.5 billion plan terminated BlackRock from an $80 million active domestic small-cap value equity portfolio last month because the firm had more of a core tilt, Mr. Witmer said. The money is parked in a Russell 2000 Value index fund run by State Street Global Advisors. The RFP is available on consultant Dahab Associates website at dahab.com/searches.html. Proposals are due by 5 p.m. EDT May 23.
Wellesley (Mass.) Retirement System issued an RFP for an international small-cap equity manager to run $5 million. The RFP is available on consultant Meketa Investment Groups website at www.meketagroup.com/mgrCenter.php. Proposals are due by 4 p.m. EDT June 8. Laurie Lizak, administrator-pensions for the $127 million plan, referred all questions to Meketa; Meketa Managing Principal John Haggerty was not available to provide further information.
New York City Deferred Compensation Plan issued an RFP for a record keeper for its combined $8.1 billion 457 and 401(k) plans, according to the plans website. The current record keeper, Great-West Retirement Services, will be invited to rebid. The RFP is available at www.nyc.gov/html/olr/downloads/word/recordkeeping_rfp.doc. Proposals are due July 2. Georgette Gestely, director, did not return calls seeking additional information.
City of Tampa (Fla.) General Employees Pension Plan is searching for an active domestic small-cap growth manager to run $18 million, said Paul Broughton, supervisor for the $525 million fund. Incumbent Cortina Asset Management, which is eligible to rebid, will continue to manage the assets until a selection is made. The funds investment consultant, Mercer Investment Consulting, is conducting the search. Jay Love, Mercer consultant who works with Tampa, could not be reached for further details.
Indiana State Teachers Retirement Fund, Indianapolis, plans to search in the fall for an absolute-return manager to invest $140 million, said Robert D. Newland, chief investment officer. Officials of the $5.2 billion fund havent decided whether to use an open RFP or invitations only, he said. The move will complete the funds combined $360 million target allocation to absolute-return strategies and global tactical asset allocation, Mr. Newland said. It already has $110 million each in GTAA with Bridgewater and GMO, which use hedge-fund-like strategies, he added. Callan is assisting.
St. Louis County Retirement Plan, Clayton, Mo., may consider adding a second small-cap equities manager, according to recently posted minutes of the plans Feb. 22 board meeting. Kari Creighton, a consultant with Summit Strategies, the $435 million pension plans investment consultant, said the fund could easily support an additional small-cap manager, according to the minutes. The plan put its existing active domestic small-cap core equity manager, Batterymarch Financial Management, on watch for performance in November. Batterymarch runs $52 million. Kirk McCarley, personnel and retirement director, was not available for comment and Ms. Creighton did not return calls for further comment by press time.
Overland Park (Kan.) Municipal Employees Pension Plan is considering a search for a third-party record keeper, confirmed Mike Russo, manager of the $36 million retirement plan. Record keeping is now handled internally, and plan officials hope to reduce liabilities by hiring an outside firm, Mr. Russo said. The plans consultant, Alliance Benefit Group, is assisting. Plan officials will meet May 8 to discuss the potential search.