Tulare County Employees’ Retirement Association, Visalia, Calif., will conduct a shortlist search as early as this quarter for two active equity managers to each run $56 million, one in international small caps and one in emerging markets.
Both are new allocations, said David Kehler, retirement administrator for the $850 million association. Funding comes from cash.
There will be no RFP. Summit Strategies, the association’s general consultant will be running the search and compiling a list of managers for the system, he said.
Separately, selections are expected sometime this quarter for a high-yield bond manager to run $21 million and an active domestic large-cap growth equity manager to handle $43 million. Both are new investment strategies. Funding comes from cash.