Philadelphia Board of Pensions and Retirement is searching for an active emerging markets equity manager to run $150 million, confirmed Francis X. Bielli, executive director of the $4.7 billion pension fund.
The board has issued an RFP because one of the pension fund's current emerging markets equity managers is on watch for performance. Mr. Bielli would not identify the firm but said it is invited to rebid.
A PDF copy of the RFP is available from Philadelphia's website.
Proposals are due at 5 p.m. EDT March 20. A timetable for finalist presentations and selection has not been set; the contract is expected to begin June 1.
Investment consultant FIS Group is assisting.