Essex County Council Pension Fund, Chelmsford, England, is searching for an unconstrained global equity manager to run up to £300 million ($483 million), confirmed Martin Quinn, head of investments at the £3.5 billion pension fund.
Funding comes from terminating AllianceBernstein from a similarly sized mandate “following a prolonged period of poor returns,” Mr. Quinn said in an e-mail.
AllianceBernstein spokesman Sebastian Kadritzke declined to comment, citing company policy not to comment on clients.
Essex plans to name managers to a framework agreement by June, with a successful manager to be funded shortly after that.
Investment consultant Hymans Robertson is assisting.
Proposals are due Jan. 4. More information is available from Hymans Robertson at [email protected].