Sunrise (Fla.) General Employees' Retirement Fund is searching for three managers to run a total of about $47 million, confirmed Steven Roth, director of manager research at Dahab Associates, investment consultant to the $122 million fund.
The pension fund is searching for a domestic large-cap growth manager to run $23 million, and a passive REIT manager and an active domestic large-cap value manager to run $12 million each. Both the large-cap portfolios portfolios may be split between active and passive managers.
Mr. Roth had no further information on the REIT manager search, including from where funding would come.
Goldman Sachs is the current large-cap growth manager and Wells Capital, the current large-cap value manager. Both run active portfolios and are invited to rebid. Mr. Roth said the searches are due to the fund's interest in diversifying.
Proposals for the passive REIT search are due at 5 p.m. EST Jan. 13. The RFP is available at Dahab's website.
Proposals for the large-cap value search are due at 5 p.m. EST Jan. 30. The RFP is available at Dahab's website.
Proposals for the large-cap growth search are due at 5 p.m. EST Jan. 31. The RFP is available at Dahab's website.
A phone call to Pauline Testagrose, senior treasury analyst for the city of Sunrise, was not returned by press time.