Norfolk County Council Pension Fund, Norwich, England, hired Legal & General Investment Management to run a passive U.K. equity portfolio with an initial value of at least £125 million ($192 million), according to an announcement on the European public procurement platform Tenders Electronic Daily.
Both cap-weighted and fundamental approaches are being considered for the strategy. Consultant Hymans Robertson advised the £2 billion plan.
The RFP was issued in March.
Alexander Younger, the council’s pension fund accountant, could not be reached by press time for further information.