New Mexico Public Employees’ Retirement Association, Santa Fe, launched a search for an active domestic small-cap pure growth equity manager to run $125 million to $150 million, according to the RFP on the $11.9 billion association’s website.
Association officials issued the RFP to add small-cap exposure in line with an asset class structure study conducted early last year, said Joelle Mevi, chief investment officer. Funding will come from reducing TimesSquare Capital Management’s $215 million smidcap portfolio and RBC Global Asset Management’s $220 million small-cap portfolio. The amount of the reductions hasn’t been determined.
A date for selection has not yet been set.