Pembroke Pines (Fla.) Fire & Police Pension Fund issued separate RFPs for active domestic equity managers, one to run $15 million in large-cap value and one to run $12 million to $15 million in midcap core, confirmed Greg McNeillie at Dahab Associates, consultant to the $320 million fund.
The current manager of the large-cap value portfolio, Buckhead Capital Management, is “having some inconsistent outperformance” and could be terminated, Mr. McNeillie said in a telephone interview. Karen Warner, plan administrator, directed questions to Mr. McNeillie. A Buckhead Capital spokesman could not be reached for comment.
The midcap core investment will be funded from reducing by half the system’s existing $30 million passive midcap portfolio with State Street Global Advisors to about $15 million, Mr. McNeillie said.
Deadlines for selection were not specified in either RFP.
The deadlines for the midcap core proposal submissions is 5 p.m. EDT April 20, and the deadline for the large-cap value manager proposals is 5 p.m. EDT April 21.
RFPs are available at investment consultant Dahab Associates’ website at www.dahab.com/searches.html.
