Pennsylvania Municipal Retirement System, Harrisburg, is searching for an active domestic large-cap growth equities manager to run $60 million to $75 million, confirmed James Allen, secretary of the $1.4 billion retirement system.
Mr. Allen said in a telephone interview that the mandate will be funded through rebalancing the portfolios of U.S. active large-cap growth manager Chase Investment Counsel, which currently runs $135 million; and U.S. active large-cap value firms LSV Asset Management, which currently runs $139 million, and DePrince, Race & Zollo, which currently runs $62 million. Mr. Allen said the addition of the second growth manager is intended to offset the two value managers.
The RFP can be found at the website of plan consultant Dahab Associates at http://www.dahab.com/searches.html. Proposals can be sent to Steven Roth, director of manager research, Dahab Associates Inc., 423 S. County Road, Bay Shore, NY 11706.
Proposals are due by 5 p.m. EDT June 25. Mr. Allen said the board aims to interview candidates by its July 15 board meeting.
