Pennsylvania Municipal Retirement System, Harrisburg, issued an RFP for an active domestic small-cap value equity manager to run $80 million, confirmed Jim Allen, secretary of the $1.6 billion system.
Pennsylvania state law requires the retirement system to issue an RFP for external managers every five years. The contract of the portfolio's current manager, Denver Investment Advisors, expires in September. The firm can rebid.
Dahab Associates is assisting. The RFP, which was announced April 3, is available on Dahab's website.
Proposals are due at 5 p.m. EDT on May 15. Mr. Allen says he expects finalist presentations to take place in July.