Ohio State Highway Patrol Retirement System, Columbus, is searching for an emerging markets equities manager to run $20 million, confirmed Dan Weiss, executive director and chief investment officer of the $703 million system. The funding source has yet to be determined, although it is “expected to originate from the existing core international portfolio,” Mr. Weiss wrote in an e-mail. No managers will be terminated. The RFP can be found at www.ohprs.org/ohprs/Investments.jsp. Proposals should be sent to Mr. Weiss at [email protected] and John Morgan, director of research at plan consultant Hartland & Co. at [email protected] Proposals are due by Jan. 14.
Newport (R.I.) City Retirement Plan
Newport (R.I.) City Retirement Plan is searching for an international equity manager to run $10 million, according to an RFP posted on the website of Dahab Associates, the $85 million plan's general consultant. MSCI EAFE and ACWI ex-U.S. managers will be considered. Vanguard, the portfolio's current manager, is invited to rebid, Jennifer L. Findlay, the plan's senior accountant, said in a telephone interview. She said the mandate is run passively, but the plan may consider a combination of active and passive investment styles. Proposals are due by 2 p.m. EST Jan. 25 and must be sent to Steven Roth, Director of Manager Research, Dahab Associates Inc., 423 S. Country Road, Bay Shore, NY 11706.
California Public Employees' Retirement System is searching for four consultants to advise the $220.3 billion system on best practices and strategies involving diversity investments, confirmed Wayne Davis, spokesman for the California Public Employees' Retirement System, Sacramento. Contracts for the existing four incumbents — Altura Capital Group, IVY Planning Group, Mosaic Investment Advisors and RG & Associates — expire April 30. Incumbent consultants are invited to rebid, Mr. Davis said in an e-mailed response to questions. RFPs are available by contacting CalPERS' operations support services division, 888-225-7377. Proposals are due by 3 p.m. PST Feb. 8.
Orange County Employees
Orange County Employees Retirement System, Santa Ana, Calif., plans to issue an RFP for general and real estate investment consultants early this year, Robert Kinsler, spokesman for the $8.3 billion system, wrote in an e-mailed response to inquiries. The contract of Callan Associates, the incumbent general and real estate investment consultant, expires on May 2. According to a proposed timeline, system's board could make a final decision on approving the RFP at its Jan. 18 meeting; the RFP could be issued as early as Jan. 24, with a Feb. 21 deadline for responses; and the board could select a finalist by its May 23 board meeting, Mr. Kinsler stated. Separately, the board decided not to commit $40 million to EnCap Investments. EnCap had been chosen on Nov. 22 along with EIG Alternative Investments and EnerVest to run a combined 1.5% of plan assets in direct energy, but EnCap executives broke off contract negotiations with the system over certain placement agent disclosure policy terms, according to board materials. Also, EnCap told system officials that because they did not sign an agreement with the firm by Dec. 15, it couldn't guarantee there wouldn't be a loss.
Chicago Policemen's Annuity & Benefit Fund put on hold an RFP for a global macro manager and an RFI for a real estate manager pending the completion of an asset allocation study, confirmed John J. Gallagher Jr., executive director of the $3.2 billion fund. Mr. Gallagher said in a telephone interview that NEPC, the system's general investment consultant, is expected to complete the asset allocation study by Chicago's Jan. 24 investment committee meeting. NEPC also serves as the fund's real estate consultant. NEPC was hired by the fund in June as part of a five-year review and replaced real estate consultant Courtland and general consultant Ennis Knupp. Sam Kunz, the fund's chief investment officer, said in a telephone interview that the board will make a decision on whether to move forward with the RFP and RFI once the asset allocation study is completed. The global macro search was released in April and had a target of 5% of the fund's assets. Mr. Kunz said the real estate RFI was originally due April 22 and aimed to get “a feel for what kind of (real estate) products were available at the time.”