Westfield (Mass.) Contributory Retirement System is searching for a private equity fund-of-funds manager to run about $6 million in a co-investment with the $120 million system, confirmed Raymond Depelteau, chief investment officer. It is a new investment in private equity, he said in an e-mail response to questions. Funding will come from reducing the system's allocation to equities. The RFP is available by contacting Mr. Depelteau at [email protected] Responses are due by 4 p.m. EDT Oct. 15.
Oklahoma Teachers' Retirement System, Oklahoma City, posted an RFP for a master limited partnerships manager to run about 5% of the system's $8.6 billion portfolio. The first-time investment, along with new 5% allocations to both private equity and real estate, will be funded with reductions of five percentage points in each of the system's large-cap/all-cap equities to 17.5%, domestic core fixed income to 25% and high-yield fixed income to 5%, said James Wilbanks, retirement system executive secretary, in an interview on Sept. 23. The reductions would result in terminations, he said. The RFP is available at http://www.ok.gov/TRS/Investment/ Request_for_Proposal.html. Proposals are due by 4 p.m. CDT Oct. 29 and must be sent to both Oklahoma Teachers Retirement System, 2500 N. Lincoln Blvd., Oklahoma City, OK 73152, and gregory w. group, 15 W. 6th St. #2901, Tulsa, OK 74119.
Royal County of Berkshire Pension Fund, Maidenhead, England, is seeking information on two possible new mandates for an emerging markets currency manager and for a tail-risk hedging manager, said Nick Greenwood, pension fund manager of the £1.3 billion ($2.1 billion) fund. It has not been decided how much each manager would run. Fund officials would consider pooled or segregated emerging market currency strategies. Tail-risk hedging could include areas such as deflation, stagflation, currency devaluation and substantial falls in long-term interest rates and/or equities; however, other risks will be considered. Firms must express interest by Nov. 3 and submit a proposal by Nov. 19. Mr. Greenwood said. Questions should be directed to Mr. Greenwood at [email protected]
Watertown (Mass.) Contributory Retirement System is searching for three managers to run a total of up to $8 million in midcap core equity, global fixed income and high-yield fixed income, according to RFPs posted on the website of the Massachusetts Public Employee Retirement Administration Commission. The $80 million system will fund the equity portfolio with up to $4 million, and the global and high-yield fixed income managers each will run $2 million. The RFPs are available on request by e-mail from Maura Goulart, research associate at system consultant Fiduciary Investment Advisors, at [email protected] All proposals are due at 4 p.m. EDT Nov. 5.
West Midlands Pension Fund, Wolverhampton, England, is searching for a consultant to oversee the annual formulation and review of its strategic investment allocation benchmark, confirmed Brian Bailey, director of pensions at the £7.9 billion ($12.5 billion) fund. The fund's investment consultant, Mercer, does not advise on the strategic investment allocation benchmark. Proposals are due Nov. 22. Questions should be directed to Mr. Bailey at [email protected]
Ohio Police & Fire Pension Fund, Columbus, will issue RFPs for an international small-cap equity manager and a high-yield fixed income manager “sometime in the next two months,” confirmed spokesman David Graham. The board of the $11 billion fund voted on Sept. 29 to authorize the RFPs. The exact sizes of the portfolios have yet to be determined.
Illinois State Board of Investment, Chicago, is undertaking an interim asset allocation study of its $10.1 billion fund, particularly to address liquidity needs, said William R. Atwood, executive director. Marquette Associates, the board's consultant, is assisting in the study. It is expected to present the results to the board Dec. 17. Marquette's last major asset allocation study for the board was about two years ago and the new study seeks to see what changes might be needed to meet new liquidity needs and to update the overall allocation for a changing outlook on markets, Mr. Atwood said.
Los Angeles Fire & Police Pension System is conducting an asset allocation study, Tom Lopez, chief investment officer of the $13.2 billion system, wrote in an e-mail response inquiries. General consultant R.V. Kuhns will be conducting the study. Mr. Lopez wrote that the study will put on hold a review of the system's equity portfolio the board had discussed Sept. 2.