Royal Borough of Kensington and Chelsea Pension Fund, London, issued an RFI for at least one manager to run about £300 million ($449 million) in active global equity, according to fund spokesman Hugh Donohoe.
The £430 million fund is changing its investment strategy to a global approach from a regional one, Mr. Donohoe said. The shift will not result in an overall asset allocation change in equity, which remains at about 70% of plan assets.
Funding will come from existing regional portfolios being managed by AllianceBernstein and Baillie Gifford. Both can rebid.
Information is due April 6, with a selection expected in July. Additional information can be obtained from consultant Hymans Robertson.