Indiana State Teachers Retirement Fund, Indianapolis, issued RFIs for managers to run a total of $150 million in global or international fixed income and $100 million in global inflation-linked bonds, as well as an RFP for a real estate consultant, said Molly E. Deuberry, spokeswoman for the $9 billion fund. The funding sources for the portfolios havent been determined, Ms. Deuberry said. Information on how many managers the fund could hire in each RFI was unavailable, Ms. Deuberry said, but managers can submit proposals for either one or both of the fixed-income searches. Indication of interest in the fixed-income RFIs is due Sept. 19 and proposals are due Oct. 6. Callan Associates is assisting in the RFI searches. In the search for a real estate consultant, due dates and other details are not yet available, Ms. Deuberry said. Callan, also the incumbent real estate consultant, can rebid. The RFIs and RFP will be available on the funds website, http://www.in.gov/trf.
Indiana Teachers looking for global/international fixed income managers
Fort Worth (Texas) Employees Retirement Fund issued an RFP for an auditor to examine the $1.8 billion systems financial statements for each year from 2007 through 2011. The RFP is available at http://www.fwretirement.org/uploads/rfp-jobs/Audit%20RFP.pdf, and proposals must be received by 5 p.m. CDT Sept 26. Robert Hulme, deputy director-investments and operations, did not return calls by press time seeking further details.
Idaho Endowment Fund Investment Board, Boise, increased its target allocation to international equities to 30% of its equity portfolio, from 20%, by cutting its domestic equities target 10 percentage points to 70%, said Larry Johnson, manager of investments. The board of the $1.1 billion fund made the move on the recommendation of consultant Callan Associates. The switch will change the domestic equity target to 49% of total assets, from 56%, with international equities around 21%, up from 14%. The remainder is in domestic fixed income. The board decided to make the change to improve diversification, Mr. Johnson said. Staff expects to present an implementation plan to the board at its Nov. 18 meeting, Mr. Johnson said. The board could consider searching for a stand-alone emerging markets manager and/or a global equity manager. Separately, the fund is seeking a qualified accounting firm to perform audits for the $1.1 billion fund through June 30, 2013, according to an RFP on the endowments website. Audits are conducted annually, with the first scheduled to begin July 1, 2009, for fiscal year 2009. The funds current auditor, Eide Bailly, can rebid. The RFP is available at http://www.efib.idaho.gov/reports/Audit_RFP_2009_Draft_with_agreement.pdf. Proposals are due by 5 p.m. MDT Sept. 30. Interested parties can contact Judy Shock at 208-334-3311 or by e-mail at [email protected] for information about the conference.
Florida State Board of Administration, Tallahassee, is searching for firms to manage a total of $1.8 billion in private equity and debt investments targeting technology, aerospace, renewable energy, medical and life sciences, and other growth businesses in the state, according to an invitation to negotiate from the board. The board seeks responses from general partnerships, funds of funds and separate account managers, among other types of firms, to actively manage private market vehicles in a legislative-authorized initiative to invest up to 1.5% of the Florida Retirement Systems $125 billion fund in development and growth of these kinds of businesses in the state. Florida SBA oversees the state retirement system. The ITN has no restriction on where the investment firms have to be based. The ITN is available at http://www.sbafla.com/pdf/vendors/ITN%20FTGII%209-9-09.pdf. Responses are due Oct. 6. Consultant Wilshire is assisting in the search.
Texas Permanent School Fund, Austin, issued an RFP for a general investment consultant, according to a state procurement website. The $24.9 billion funds last asset allocation study was in July 2006, when the State Board of Education, which oversees fund investments, decided to increase its alternative investments, including a 10% absolute-return allocation and 6% real estate allocation. The board now is looking to add private equity and real return asset classes, and to expand its international smidcap equity holdings, according to the RFP. The incumbent investment consultant is R.V. Kuhns. The RFP is available at http://esbd.cpa.state.tx.us/bid_show.cfm?bidid=78354. Responses are due by 3 p.m. CDT Oct. 7. A selection is expected in January, with the new contract beginning March 1. A fund spokeswoman was not immediately available at press time for further details.