Kentucky Retirement Systems, Frankfort, is conducting an invitation-only search for two or three managers to run a total of $500 million in active domestic midcap equities, confirmed T.J. Carlson, chief investment officer of the $13.3 billion system.
Manager presentations are expected to start next week. The investment committee should make recommendations in May, and board approval is expected at the May 17 meeting. An RFI was issued in January, Mr. Carlson said in a telephone interview.
Funding will come from moving assets out of the $600 million internally managed passive midcap portfolio. The pension fund currently has no active midcap managers.
R.V. Kuhns, the retirement system’s general consultant, is assisting with the search.
Separately, the board hired Elkins McSherry to provide transaction cost analysis services. It is a new hire, and no company was replaced, Mr. Carlson said. It was an invitation-only search, Mr. Carlson said.
