Greater Orlando (Fla.) Aviation Authority is searching for two domestic large-cap managers to each run up to $10 million, according to Steve Roth, research analyst at plan consultant Dahab Associates, which is assisting with the search. One growth manager and one value firm will be selected by the $53 million defined benefit plan. The RFPs do not specify whether the investment will be actively managed, Mr. Roth said. The RFPs can be found at http://www.dahab.com/searches.html. Proposals for the value manager are due by 3 p.m. EDT June 8, and proposals for the growth manager are due by 3 p.m. EDT June 9. Proposals must be sent to Kathy Bond, chairwoman, retirement benefits committee, Greater Orlando Aviation Authority, 5855 E. Cargo Road, Orlando, FL 32827; and David Lee, director of manager research, Dahab Associates Inc., 423 S. Country Road, Bay Shore, NY 11706. A decision on both managers is expected by Aug. 12, according to the RFPs. Ms. Bond could not be reached for comment by press time.
Orlando Aviation Authority seeks two domestic large-cap managers
West Sussex County Council Pension Fund, Chichester, England, issued an RFI for a global custodian for its £1.23 billion ($1.97 billion) plan, according to Rachel Fisher, the fund's performance analyst. Current custodian State Street Corp., whose contract with the fund expires in 2010, can rebid. Additional information on the RFI is available at http://www.westsussex.gov.uk. Proposals are due June 22. An appointment is expected in the first quarter of 2010. No consultant is assisting in the search.
Newport News (Va.) Retirement System is searching for a manager to run $6 million to $10 million in emerging markets equities, according to an RFP posted on the website of Dahab Associates, the $590 million plan's consultant. The RFP can be found at http://www.dahab.com/searches.html. Proposals can be sent to David Lee, director of manager research, Dahab Associates Inc., 423 S. County Road, Bay Shore, NY 11706. Proposals are due by 5 p.m. EDT June 22. The RFP does not indicate when a decision will be made. LaVerne Lovett, the city's director of finance and retirement board secretary, could not be reached for further details.
Fonds de Reserve pour les Retraites, Paris, is looking for two active managers to each run €500 million ($699 million) in direct European real estate. Proposals are due June 26. Further information can be obtained at www.fondsdereserve.fr. The fund, whose assets declined 24.8% in 2008 to €27.7 billion, was due to review its asset allocation strategy this year, according to a previous announcement. A fund spokeswoman could not be reached by press time for further details.
Dukes County Contributory Retirement System, Vineyard Haven, Mass., is searching for a manager to run $3 million in smidcap equities, according to an RFP posted on the website of Dahab Associates, the $45 million plan's consultant. The RFP can be found at http://www.dahab.com/searches.html. Proposals can be sent to David Lee, director of manager research, Dahab Associates Inc., 423 S. County Road, Bay Shore, NY 11706. Proposals are due by 5 p.m. EDT June 26. The RFP does not specify when a decision will be made. Neither Mr. Lee nor Kelly McCracken, plan administrator, could be reached for further details.
Ohio State Teachers Retirement System, Columbus, will add a 5% target allocation that will include commodities, infrastructure and natural resources, as part of the $49.7 billion system's new asset allocation. The new allocation will be under a category called opportunistic/diversified, according to a posting on the system's website. The system also will increase its private equity allocation to 5% from 3.5%. Allocations to domestic and international equities and fixed income will be reduced appropriately over time. The system did not specify by how much each would be reduced. The changes are a result of an asset allocation study by Russell Investments that began in November. Spokeswoman Laura Ecklar did not return a phone call by press time.
Illinois Teachers Retirement System, Springfield, will soon issue RFPs for a general investment consultant and a real estate consultant, Stan Rupnik, CIO and acting executive director of the $27.2 billion system, told trustees at a May 21 meeting, An exact date for their posting and deadline for their return was not set, Mr. Rupnik said he expects the board to interview general investment consultant finalists at the board's August meeting and the real estate consultant search to be decided at the October meeting. General investment consultant incumbent R.V. Kuhns may rebid; its contract expires June 30. Incumbent real estate consultant Callan Associates may also rebid; its contract expires Dec. 31.