Tampa (Fla.) General Employees Pension Fund is conducting an invitation-only search for an active international value equity manager to run about $52 million, according to recently released board meeting minutes.
The $618 million pension fund's current manager, Mercator Asset Management, is on watch for underperformance.
According to May 21 board meeting minutes, the pension fund's investment consultant, Asset Consulting Group, will bring a shortlist of candidates as “potential replacements for Mercator” to the July 16 board meeting, with manager presentations scheduled for the Aug. 20 meeting. Whether Mercator is a candidate could not be learned by press time.
Mercator spokeswoman Alwyn Taylor did not return a phone call seeking comment.
Phone calls to Mark Boghich, pension supervisor, and Ernest Carrera, chairman of the board of trustees, were not returned by press time.