Aberdeen (Scotland) City Council Pension Fund issued an RFP for at least one active international ex-U.K. equities manager to run £160 million ($263 million).
The £1.4 billion fund seeks to top the FTSE All World ex-U.K. index by 200 to 400 basis points annually. Hedge fund strategies will not be considered.
A spokeswoman for bfinance, which is assisting in the search, said in an e-mail that the fund would not identify the incumbent manager. Pension Funds and their Advisers 2008 listed Baillie Gifford and SSgA as global equity managers.
Joanne Hope, pensions manager-investments at Aberdeen, could not be reached for comment.
Responses are due Sept. 11, with a selection expected by the end of the year. The RFP and more information are available at the city's procurement website at http://tenders.aberdeencity.gov.uk/Search/Search_Switch.aspx?ID=7404.