Durham County (England) Council Pension Fund, is searching for up to three active managers to run a total of £700 million ($1.1 billion) in global or emerging markets equity, according to Tenders Electronic Daily, a European procurement website.
The £1.8 billion pension fund will consider hiring an emerging markets equity manager, but if a suitable one can't be found all three positions will be filled by global managers.
As of March 31, Edinburgh Partners ran £420 million in active global equity and BlackRock ran £120 billion in passive global equity, according to the county council's website.
Neither the fate of the current managers nor funding for the new mandate could be learned.
Proposals are due Nov. 9. More information is available at http://ted.europa.eu/udl?uri=TED:NOTICE:323749-2012:TEXT:EN:HTML.
Paul Turner, principal accountancy assistant at the pension fund, could not be reached for further information.
