Chicago Metropolitan Water Reclamation District Retirement Fund will search for an emerging manager to run $15 million to $25 million in active domestic large-cap value equity, said Susan Boutin, executive director of the $1 billion pension fund.
The RFP is tentatively scheduled to be posted on Dec. 5 on the websites of the pension fund and consultant Gray & Co. The funding source has not been determined by the board yet, Ms. Boutin said in a telephone interview.
Emerging managers are classified by the pension fund as any firm with between $10 million and $10 billion in assets under management.
A hiring decision is expected at the Feb. 27 board meeting.