Updated with correction June 24, 2011
New Mexico State Investment Council, Santa Fe, launched an RFP for an active smidcap value, growth or core equity manager to run up to $1.2 billion, said Charles Wollmann, director of communications for the $15.3 billion council.
The council is launching the search as part of a restructuring of the portfolio. Funding will come from an internally managed portfolio has been temporarily invested in exchange-traded funds and the portfolios of its domestic smidcap managers, all of whom will be invited to bid, Mr. Wollmann said.
The council's current roster of domestic equity managers includes Earnest Partners, which manages $516 million midcap equity portfolio and a $198 million smidcap equity portfolio, and Fox Asset Management, which runs a $202 million smidcap equity portfolio.
Responses are due July 8, with selection planned for Oct. 25; the contract would start Dec. 1. The RFP is on the council's website at www.sic.state.nm.us.
R.V. Kuhns, the council's general investment consultant, is assisting.
Separately, the council plans to launch an RFP for a real estate consultant sometime this week. Incumbent Courtland Partners' contract expires at the end of the year; Courtland will be invited to rebid, Mr. Wollmann said. That RFP also will be available on the council's website; no further information was available by press time.