Illinois State Universities Retirement System, Champaign, will search for its first transition managers, according to Daniel L. Allen, chief investment officer. The $13.7 billion system plans to post an RFP on April 4 on its website, www.surs.org; it anticipates forming a group of no more than five transition managers. Further details have not been finalized. The investment committee could recommend manager selections Sept. 15. Callan Associates, SURS investment consultant, will assist. The transition manager program would encompass all asset classes in the system's investment portfolio appropriate for the services, Mr. Allen said in an e-mail. The system currently uses global custodian Northern Trust or its index fund managers for transitions, he wrote. All the current vendors will be invited to respond to the RFP.
Hampshire County Retirement System, Northampton, Mass., is searching for an emerging markets local currency debt manager to run $7 million to $8 million, according to a posting on the website of the Massachusetts Public Employee Retirement Administration Commission. The $193 million defined benefit plan wants firms with a three-year track record in the asset class and assets of at least $300 million, according to the RFP. The RFP is available on request from Christianne Davidson at consultant NEPC, 1 Main St., Cambridge, MA 20142 or by e-mail at [email protected] Proposals are due by 4 p.m. EDT April 4. Separately, the system is also searching for fixed-income managers to run $6 million to $10 million total, according to an RFP notice on the MassPERAC website. The system is searching for managers offering “either open- or closed-end products that invest in senior, subordinated and mezzanine private-lending, loan or debt strategies, with a strong preference for products that are designed to distribute income to investors on a quarterly or semiannual basis,” according to the RFP. The successful candidates must have at least $300 million in private debt and fixed-income assets under management and at least six dedicated investment professionals on staff, according to the RFP. Johnny Yong, portfolio analyst at NEPC, the system's consultant, said in a telephone interview that the search would be posted on NEPC's website in the near future. Proposals are due by 4 p.m. EDT April 22. Patrick E. Brock, retirement board chairman, could not be reached for comment.
Los Angeles County Deferred Compensation and Thrift Plans' administrative committees launched an RFP for an investment consultant for the $5.7 billion deferred compensation and $1.6 billion 401(k) plans, William Yuen, finance analyst, said in an e-mailed response to questions. Incumbent NEPC's contract expires June 30; the firm can rebid. Responses are due at noon PDT on April 5. The RFP is on the website of the Los Angeles County Treasurer and Tax Collector, which is conducting the search: http://ttc.lacounty.gov/Proptax/TTCContract.htm.
Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, issued an RFP for a hedge fund-of-funds manager to run up to $12 million, confirmed Ruth O'Meara, director of retirement. The $300 million system issued an RFP to add to its existing hedge fund allocation; information on the size of the existing allocation was not available. The RFP is available on the website of the Massachusetts Public Employee Retirement Administration Commission at www.mass.gov/perac/new.htm. Proposals are due by 4 p.m. EDT April 8. Ms. O'Meara directed all otherquestions to Sebastian Grzejka, senior analyst at NEPC. He couldn't be reached for comment.
Ohio Police & Fire Pension Fund, Columbus, is searching for at least one active international small-cap equity manager to run a total of about $500 million, confirmed spokesman David Graham. The search is a result of a shift in the $11.7 billion fund's non-U.S. equities allocation to include small-cap equities. The RFP can be found at www.op-f.org/rfps. Proposals are due at 3 p.m. EDT April 22. Finalists will be chosen at the end of May, with a decision expected at the end of June.
Ohio School Employees Retirement System, Columbus, is searching for a firm to provide independent proxy voting and proxy research, according to an RFP posted on the $10.2 billion system's website. ISS, the system's current proxy adviser, can rebid, said system spokesman Tim Barbour. The RFP can be found at www.ohsers.org/vendor-opportunities. Proposals are due at 4 p.m. EDT April 29. A phone call to system spokesman Tim Barbour was not returned by press time.
