Oklahoma Tobacco Settlement Endowment Trust Fund, Oklahoma City, is seeking an active domestic “smidcap” equity manager to run about $20 million, said James Wilbanks, director of revenue and fiscal policy for state Treasurer Scott Meacham. The portfolio, which cannot contain securities of tobacco-related companies, is now handled in a similar style by EARNEST Partners, whose contract will expire June 30. The firm is expected to rebid. “We’re not displeased with their performance,” Mr. Wilbanks said, but state law requires the search. New England Pension Consultants is assisting. Proposals are due by 3:30 p.m. CST on Dec. 31; a selection is expected Feb. 1. The RFP is available on NEPC’s website at search.nepc.com/OkT/OKT_SMID_RFP.pdf. Questions should be directed to Meghan Fagan at [email protected] before 3:30 p.m. EST on Dec. 14. The $380 million trust oversees investments of Oklahoma’s share of the national tobacco settlement.
Utah Fund of Funds, Salt Lake City, issued an RFP for a financial adviser to help run its second $100 million fund of funds for venture capital projects with ties to the state, said Jeremy Nielson, managing director. The firm will help select and monitor investments for the fund. Fort Washington Capital Partners is adviser for the first fund of funds, created in March 2006; the firm is eligible to bid on the new assignment. The RFP is available at www.utahfundoffunds.com. Proposals are due by 11:59 p.m. MST Dec. 20.
New York State Common Retirement Fund, Albany, issued an RFP to expand its private equity emerging manager program, confirmed Jim Fuchs, spokesman for state Comptroller Thomas P. DiNapoli, sole trustee of the $154.5 billion fund. In October, Mr. DiNapoli announced a $1 billion funding increase for the program. Aldus Equity Partners, the existing manager of managers in the program, is eligible to bid. Mr. Fuchs said the fund, which is handling the search internally, could hire more than one manager depending on the response. The RFP is available on the comptroller’s website at www.osc.state.ny.us/pension/
rfp_emerg_markets.pdf. Proposals are due by 12 p.m. EST Jan. 4. The fund has committed $475 million to its private equity emerging manager program since its 2005 inception. Separately, the fund will issue a survey later this month to identify firms interested in providing trade execution for $80.8 billion in internally managed index funds, said Robert Whalen, spokesman. The funds comprise $49 billion in equities, $24 billion in fixed income and $7.8 billion in short-term investments or cash. “It’s a routine procurement review,” he said. About one-third of all trading will continue to be done via qualified minority- and women-owned brokers. All firms interested in doing business with the fund, including the 25 brokers with which the fund now has relationships, must return the questionnaire to the state comptroller’s office by Jan. 29.
Milwaukee County Deferred Compensation Plan issued an RFP for a bundled provider for its $229 million 457 plan, according to its website. The RFP can be found at www.milwaukeecounty.org/display/displayFile.aspx?docid=7951&filename=/User/dgreen/deferred_compensation_plan_6309.pdf. Proposals are due Jan. 4. Jack Hohrein, retirement services manager, did not return calls seeking additional information. According to the 2007 Money Market Directory, Great-West is the plan’s record keeper and investment manager.
Worcester (Mass.) Retirement System is looking for information on private market infrastructure, according to consultant Meketa Investment Group’s website. The board plans to invest $5 million to $15 million in a domestic, international or global strategy. The announcement is available on Meketa’s website at www.meketagroup.com/mgrCenter.php. Proposals are due by 4 p.m. EST on Jan. 9. Elizabeth Early, board administrator for the $711 million plan, did not return a call seeking additional information.
San Francisco City & County Employees’ Retirement System issued an RFP for a global custodian. The contract of the $16.7 billion pension fund’s current provider, Northern Trust, expires June 30. Proposals are due Jan. 11. The RFP is available on the fund’s website, www.sfgov.org/sfers. David Kushner, deputy director for investments, could not be reached for further details.
Worcester (Mass.) Retirement System will issue an RFP for a portable alpha manager to run $5 million to $15 million, according to consultant Meketa Investment Group’s website. The strategy will target the S&P 500 index, with a diversified hedge fund of funds as the alpha source. Administrator and board member Elizabeth Early did not return calls seeking further information. Proposals are due by 4 p.m. EST on Jan. 11.
The City of Phoenix is searching for an investment consultant for two new trusts, confirmed Randy Piotrowski, city accounting supervisor. This month, the City Council is expected to create a Long-Term Disability Trust, with initial assets of $70 million, and a Medical Expense Reimbursement Plan, with initial assets of $40 million. The investment consultant will conduct asset allocation studies and help develop investment policies and help find a custodian and investment managers for each trust, as well as evaluating managers’ performance. Funding for the trusts will come from the city’s general fund. The RFP is available at phoenix.gov/BUSINESS/rfpfinance.html. Responses are due by 2 p.m. MST Jan. 18.
