Orange County Employees Retirement System, Santa Ana, Calif., is searching for a manager as a possible replacement for Washington Capital Management, which runs $65 million in active domestic small-cap growth equities for the $7.5 billion system, Robert Kinsler, spokesman, wrote in an e-mail in response to inquiries.
“The board agreed with a staff recommendation to continue to watch-list Washington Capital Management for turnover in key personnel and initiate a search,” Mr. Kinsler stated. “The search will allow the Board of Retirement to assess Washington’s performance relative to a peer group, and also provide an opportunity to make a final decision on the manager at the conclusion of the search.“
Further information on the small-cap manager RFP was not available by press time.
The system also issued an RFP for its first governance consultant. The selected firm would review and recommend modifications to current system governance policies and practices. Responses to the governance consultant RFP are due April 30, with a selection expected at the board’s May 7 meeting.
The governance consultant RFP is located on the system’s website at http://www.ocers.org.