Cook County Annuity & Benefit Fund, Chicago, on Wednesday issued an RFP for an active domestic small-cap growth equity manager to run $150 million.
It's the first active domestic small-cap growth allocation by the pension fund, said Rachel Farris, spokeswoman. The $8.2 billion defined benefit plan will fund the allocation from its passive small-cap allocation.
The pension fund has an overall 25% strategic target to U.S. equity.
The RFP is available on the pension fund's website. Questions on the RFP can be submitted until noon CDT Aug. 9; proposals are due at 3 p.m. CDT Aug. 21. No selection date has been set, but fund officials expect to complete contract negotiations by the end of the year, according to the RFP.
Callan Associates, the pension plan's investment consultant, is assisting.