Newport (R.I.) City Retirement Plan is searching for a timber manager to run $5 million, confirmed Jennifer L. Findlay, senior accountant for the $105 million plan.
It is a new asset class for the plan, according to Ms. Findlay. Funding is coming from domestic equities; no managers will be terminated.
An RFP is posted on the website of the plan's investment consultant, Dahab Associates, at www.dahab.com/searches.html.
Proposals are due 2 p.m. EST Nov. 21. A timetable for final presentations and a selection has yet to be determined.