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. 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. The fund's general consultant, R.V. Kuhns, is assisting. Responses are due at 5 p.m., PST on Feb. 24. Responses should be sent to R.V. Kuhns at [email protected]
State-Boston Retirement System is searching for a manager to run up to $30 million in distressed corporate debt, according to a notice on the website of the Massachusetts Public Employee Retirement Administration Commission. The $3.2 billion system will not consider allocations to public debt, high-yield credit, asset-backed loans or mezzanine. The system seeks longer-dated opportunities and will grant managers a lockup period of up to seven years. Responses are due by 4 p.m. EST Feb. 24. Interested parties can contact Kristin Reynolds at the system's consultant, NEPC, 1 Main St., Cambridge, MA 02142 or by e-mail at [email protected]
Pension Protection Fund, Croydon, England, issued an RFI for one or more transition managers, according to an announcement posted on the European procurement platform Tenders Electronic Daily. The £4.4 billion ($7.1 billion) fund's current transition managers are State Street Global Advisors, Goldman Sachs Asset Management and BlackRock, according to the PPF's latest annual report for the year ended March 31. Proposals are due Feb. 28. Further details were not available by press time. Additional information about the mandate can be obtained via e-mail to [email protected] ppf.gsi.gov.uk or at www.myTenders.org/Search/Search_Switch.aspx?ID=81221.
NEST Corp., London, is searching for annuity providers, responsible ownership consultants and ESG data service providers, confirmed spokeswoman Heather Tilston. An unlimited number of annuity providers will be selected to serve as approved providers to offer quotes on annuities for retiring members of the National Employment Savings Trust, a nationwide U.K. defined contribution scheme set to go live this spring. The responsible ownership consultants will help NEST develop policies and analyze companies using environmental, social and governance criteria. ESG analysis will be used in hiring fund managers that use ESG inputs as part of their investment processes. The RFP for the annuity providers is posted on Tenders Electronic Daily at http://ted.europa.eu/udl?uri=TED:NOTICE:48280-2011:TEXT: EN:HTML&src=0. Proposals are due March 2. More information on the annuity provider search is available by sending an e-mail to John Veness, commercial and procurement officer, at [email protected] For more information on the other two searches, for which proposals are due March 7, contact commercial and procurement manager Maureen Gore at [email protected]
Lothian Pension Fund, Edinburgh, issued an RFI for at least one manager to run an active Asia-Pacific portfolio initially valued between £250 million ($403 million) and £350 million. Baillie Gifford manages the strategy and its contract ends in July, according to a news release issued by the £3.2 billion fund. The firm can rebid. “It is fund policy always to tender at the end of a contract,” according to the news release. The mandate also requires environmental, social and governance factors to be integrated into the investment strategy. Proposals are due March 14.
Florida State Board of Administration, Tallahassee, launched a search for a general investment consultant and a public market implementation consultant. Firms can apply for one or both of the assignments. The board could hire more than one firm, according to the invitation to negotiate, a type of RFP, available at www.sbafla.com. The consulting work would be for the $155.4 billion the board oversees, including the Florida Retirement System's $126.9 billion defined benefit plan and $6.1 billion 401(a) defined contribution plan. Hewitt EnnisKnupp and Wilshire Associates, the FSBA's incumbent general consultants, can rebid. Their contracts expire June 30, prompting the search. According to the notice, the FSBA is seeking the general consultant's assistance in developing investment policy, asset allocation, strategy and performance analysis, and the implementation consultant's assistance in evaluating, selecting and monitoring of investment managers for public market investments. Proposals are due March 14.