New Mexico Public Employees' Retirement Association, Santa Fe, plans to search beginning Sept. 1 for a manager to run a new $100 million international developed markets small-cap equity portfolio, said Joelle Mevi, chief investment officer of the $11.1 billion pension fund.
Fund officials are launching the RFP following a 2010 structure study, which determined whether the plan is appropriately diversified across asset-class composites, Ms. Mevi said. The RFP will be on the fund's website at http://www.pera.state.nm.us. A selection date has not yet been determined.
Separately, the investment committee will recommend at the Aug. 25 board meeting that it remove Principal Global Investors' $175 million international developed markets small-cap equity portfolio from the watchlist and extend Principal's contract for another four years, to end Sept. 30, 2015, she said.