Oklahoma Tobacco Settlement Endowment Trust Fund, Oklahoma City, issued an RFP for two active domestic core fixed-income managers to handle $65 million each, said James Wilbanks, director of revenue and fiscal policy for state Treasurer Scott Meacham. The portfolios, which cannot contain securities of tobacco-related companies, are now handled in a similar style by Reams Asset Management and Axia Investments, whose contracts expire at year end. They are expected to rebid. The $380 million trust oversees investments of Oklahomas share of the national tobacco settlement. New England Pension Consultants is assisting. The RFP is available at search.nepc.com/OKT/
Core_Fixed_rfp.pdf and is due by 4:30 p.m. CDT Sept. 28. Questions should be directed to Amanda Martin at [email protected]
Essex Regional Retirement System, Danvers, Mass., is searching for an active domestic large-cap core equity manager to run about $60 million and a private equity fund-of-funds manager to run about $8 million. The searches are being conducted as part of the systems third-quarter rebalancing process, said Timothy Bassett, chairman and executive director of the $238 million fund. We want to look at whats out there, see if there are new strategies, Mr. Bassett said. The system does not have a private equity fund-of-funds manager. Segal Advisors is assisting. The RFPs are available on the Massachusetts Public Pension Forums website at www.mppf.org/searches/current-searches/index.html. Proposals are due Oct. 1 for the private equity search, and Oct. 9 for the large-cap search.
City of Atlanta issued an RFP for a record keeper for its $32 million 401(a) plan. The city is conducting the search as part of its due diligence, said Kurt Lofters, consultant at Gray & Co. Incumbent ING is invited to rebid. Proposals are due Oct. 3. Elsa Castro, contracting officer at the city, and Tanya Jackson, director of pensions, did not return calls seeking comment. More information is available at www.atlantaga.gov/business/rfp_generalfund.aspx.
California State Teachers Retirement System, Sacramento issued an RFP for active currency managers to run a total of $4.8 billion to $6.8 billion, or 15% to 20% of the funds overall currency exposure, confirmed Sherry Reser, spokeswoman for the $169 billion system. The funds dynamic currency overlay program targets 50 basis points above the MSCI EAFE plus Canada, unhedged. Staff plans to hire a pool of managers, but Ms. Reser could not say how many. The RFP is available on the funds website at www.calstrs.com/rfp. Proposals are due Oct. 5.
Hampden County Board of Retirement, Springfield, Mass., is searching for at least one private equity fund-of-funds manager to run a total of $6.8 million. The RFP is available on the website of the $220 million plans consultant, Segal Advisors, at www.segaladvisors.com. Proposals are due by 3 p.m. EST Oct. 9. Julianne Bartley, the boards executive director, was not available for comment. Rosemary Guillette, senior associate at Segal Advisors, did not return a call for comment.
City of Newport, R.I., issued RFPs for three managers to run a total of $30 million for its $88.1 million pension fund one to run $13 million in active domestic midcap core equity and two to run $8.5 million each in active domestic large-cap equity, one growth and the other value, said Jennifer Findlay, senior accountant. The searches were prompted when officials learned in 2006 the city might maximize returns and save fees by investing in institutional products, Ms. Findlay said. The fund now uses all retail products. Dahab Associates is assisting. The RFPs are available on the citys website at cityofnewport.com. Proposals are due Oct. 10 for the large-cap value search, Oct. 12 for large-cap growth and Oct. 16 for midcap core.
Clearwater (Fla.) Employees Pension Fund is searching for at least one manager to handle $60 million in active domestic real estate equity, said Steve Moskun, cash and investment manager. The $610 million plan issued two RFPs, one for real estate securities and the other for real estate vehicles with daily or quarterly liquidity. The fund might consider splitting the allocation. We want to keep our options open at this point, Mr. Moskun said. Funding comes from rebalancing. The move is being made for diversification. The RFP is available on consultant Dahab Associates website at http://dahab.com/searches.
html. Proposals are due at 5 p.m. EDT on Oct. 15.
Kansas City (Mo.) Public School Retirement System issued an RFP for a master custodian, according to a posting on the $800 million pension funds website. The RFP is at www.kcpsrs.org/Custody%202007%20RFP.pdf. Proposals are due by 3 p.m. CDT Oct. 22. Further details were not available; Executive Director Cecelia Carter did not return calls.
Town of Plymouth (Mass.) Retirement System is searching for an investment consultant for the $112 million fund, said Wendy Cherry, assistant director. Fund officials are conducting the search because the plans current consultant, Kevin Leonard at Segal Advisors, is leaving, she said. Segal is invited to rebid. Firms should contact Debra Sullivan, Plymouth board administrator, to receive the RFP. Proposals are due at 4 p.m. EST Nov. 1.