Iowa Public Employees' Retirement System, Des Moines, is searching for at least one transition manager, according to an RFP posted on the $23.3 billion system's website.
Incumbents BlackRock and State Street Global Advisors are invited to rebid. Both firms have provided transition management services to the pension fund since 2003.
The contract is for six years. Firms must have at least five years' experience in providing transition management in domestic, international and emerging markets equity and fixed income.
The RFP is available from Iowa's website. Proposals are due at 4 p.m. CDT Aug. 1. Finalists will be interviewed in September with a hiring decision expected on Sept. 20.
Investment consultant Wilshire Associates is assisting.
