New Mexico Public Employees Retirement Association, Santa Fe, issued an RFP for an active international developed markets large-cap value equity manager to run $150 million, said Robert Gish, CIO of the $9.66 billion association.
Funding will come from cash.
Responses are due Aug. 21. The board is expected to make a selection within 120 days, Mr. Gish said.
Separately, the board hired BGI to manage $91 million in TIPS and SSgA to run $135 million in the SSgA Diversified Portfolio of Energy, Precious Metals, Industrials & Agriculture. The investments are part of the association’s new 2.5% allocation to real assets. Funding will come from cash.
The board also committed $35 million to Brevan Howard Global Macro Hedge Fund and $15 million to Khosla Venture’s clean tech venture capital fund.
The contract of Principal Global Investors, which manages $110 million in international developed markets small-cap equities, was renewed for two years. Its contract was to expire Sept. 30.