Chicago Municipal Employees' Annuity and Benefit Fund will issue an RFP within the next two weeks for an active domestic midcap growth equity manager, said James Mohler, CIO.
The size of the portfolio hasn't been determined, he said.
The $4.5 billion fund wants to diversify its exposure to midcap growth, Mr. Mohler said. William Blair & Co. currently runs about $65 million in midcap growth for the fund.
Funding would come from large-cap equities, currently at about 19% of fund assets. That's at the high end of the 13% to 19% target allocation range, Mr. Mohler said. According to the 2009 Money Market Directory, large-cap equities managers for the fund are William Blair & Co., CastleArk Management, ClearBridge Advisors, Fortis Investment Management, Great Lakes Advisors, Harris Investment Management, Holland Capital Management, MacKay Shields, New Amsterdam Partners, Northern Trust Global Investments, UBS Global Asset Management, Wellington Management and Zenna Financial Services.
The RFP will be posted on the fund's website at http://www.meabf.org. Deadlines and selection dates have not been set, he said.