Pennsylvania Municipal Retirement System, Harrisburg, in the next two months will issue an RFP for an active domestic small-cap value equity manager to run about $80 million, confirmed James Allen, secretary of the $1.6 billion system.
The contract of the portfolio's current manager, Denver Investment Advisors, expires on Nov. 28. The firm can rebid.
Dahab Associates is assisting.
State law requires the system to issue an RFP for external managers every five years, according to Mr. Allen.
Separately, the system rehired actuarial consultant Cheiron Associates for four years, effective July 1. An RFP was issued in February.