Merseyside Pension Fund, Liverpool, England, plans to search this week for passive equity and fixed-income managers to run a combined £1.3 billion ($2.1 billion), said Paddy Dowdall, investment manager at the £4.8 billion fund. Legal & General Investment Management ran £476 million in U.K. index-linked government bonds and £446 million in passive U.K. equities as of Nov. 30. UBS Global Asset Management ran £380 million in passive U.S. equities at that time. Both incumbents can rebid. Both managers have been in place since 2003; the search is being performed because the fund is required by law to review manager contracts, Mr. Dowdall said. Aon Hewitt will assist in the search.
Ohio Public Employees Retirement System, Columbus, is searching for four to eight managers to run $350 million to $700 million each in active domestic midcap equities, according to a news release on the $71.3 billion system's website. The number of managers to be chosen has not been finalized. Interested parties should update performance data through Dec. 31 on eVestment Alliance, and notifications of interest should be sent to [email protected] by Feb. 11. Fund spokeswoman Julie Graham-Price did not return a phone call for more information by press time.
State-Boston Retirement System is searching for a consultant to assist with general and alternative investment consulting, according to a notice posted on the $3.2 billion system's website. More than one consultant could be hired, depending on the responses the system receives, Daniel Greene, deputy director and investment manager at the system, said in a telephone interview. Mr. Greene said NEPC is the system's sole investment consultant and is invited to rebid. “It's not a reflection on (NEPC),” he said, noting the system issued the RFP to see what's available in the market. The RFP is available by contacting [email protected] The deadline for responses is 4 p.m. EST Feb. 18, Mr. Greene said the system aims to make a decision by the end of May.
San Francisco City & County Employees' Retirement System issued an RFQ for commission recapture services, confirmed David Kushner, deputy director for investments. Officials at the $14.1 billion system hope to have one to three external firms to perform recapture services, according to Mr. Kushner. The RFQ can be found at www.sfers.org/index.aspx? page=67. Responses should be sent via e-mail to Bob Shaw, the system's managing director for public markets, at [email protected] Responses are due at 11:59 p.m. PST Feb. 18. The time frame for selection is still to be determined.
Fonds de Reserve pour les Retraites, Paris, is searching for passive equity managers to run a combined e2 billion ($2.7 billion), a spokesman confirmed. Passive managers tracking cap-weighted indexes will run e1 billion, while the remainder will use managers tracking non-cap-weighted indexes. All of the mandates will be for indexes in developed countries in Europe, the U.S. and Asia. This is the FRR's first move into non-cap-weighted passive strategies. The move was driven by recent research showing benefits of diversifying away from cap-weighted strategies, the spokesman said. Proposals are due Feb. 28. More information is available at www.achatpublic.com/accueil/frr/eng/medias/index.php. These mandates will not be affected by recent decisions by the French government to draw down the fund's assets over time to help plug budget deficits, the spokesman said.
Essex County Council Pension Fund, Chelmsford, England, is searching for a timberland investment manager to run £60 million ($97 million), according to Tenders Electronic Daily, a European procurement website. The fund will consider separate account strategies, pooled funds, listed funds, funds of funds and multimanager strategies. Proposals are due March 4. Further information is available by sending an e-mail to investment consultant Hymans Robertson, which is assisting in the search, at [email protected] Martin Quinn, group manager, investments for the £3 billion fund, was out of the office and unavailable for comment.