Updated with correction
New Mexico Public Employees Retirement Association, Santa Fe, expects to launch an RFP for an active domestic small/midcap growth equity manager on Sept. 4, said Joelle Mevi, chief investment officer for the $12 billion pension fund, in an e-mail.
The board is searching for one or two managers to manage a total of $300 million. Selection of a manager or managers is targeted for the board's Dec. 20 meeting.
The contracts of the incumbents, TimesSquare Capital Management and RBC Global Asset Management, are set to expire March 2013. TimesSquare and RBC each manage $160 million in active small-cap growth equity. Both firms will be invited to rebid.
Separately, the pension fund's investment committee is recommending the board commit a $49 million allocation to Saba Capital for a market neutral hedge fund and $45 million to Highline Capital Management, a long/short equity hedge fund. The board is expected to decide whether to make the commitments at its Aug. 30 meeting.
The investment committee also plans to recommend the termination of SSgA International Alpha Select, which manages $180 million for the pension fund in a quantitative EAFE strategy for performance, Ms. Mevi wrote. The investment committee plans to make the recommendation at its Aug. 30 meeting.
“The New Mexico Public Employees Retirement Association remains a valued client of SSgA,” said Alicia Curran Sweeney, SSgA spokeswoman.