Pennsylvania Municipal Retirement System, Harrisburg, posted two RFPs for active international equity managers to run a combined $235 million, confirmed Jim Allen, secretary of the $1.6 billion system.
The system last month announced it would conduct the searches — the first for at least one value manager to run $130 million, and the second for one or more growth managers to run a total of $105 million.
The assets are managed by Mercator Asset Management, running $135 million in value, and growth managers Wentworth, Hauser & Violich and GlobeFlex Capital, which run about $64 million and $43 million, respectively. All are invited to rebid.
The search is required by Pennsylvania state law, which mandates that manager contracts go up for bid every five years.
Interviews with finalists are expected in mid-November.