Oakland (Calif.) Police & Fire Retirement System is searching for passive domestic large-cap equity managers to run $25 million to $30 million each in growth and value strategies, confirmed David Sancewich, principal at Pension Consulting Alliance, investment consultant to the pension fund.
Mr. Sancewich said the $469 million pension fund wanted to move to passive from active management in large-cap equities. The large-cap growth manager will replace Delaware Investments, which resigned earlier this year. The value manager will replace Barrow, Hanley, Mewhinney & Strauss, which will be terminated when a new manager is selected. Delaware had run about $18 million as of March 31, and Barrow Hanley managed $30 million as of July 31.
The RFIs are available on PCA's website. Proposals are due Oct. 10. A hiring decision is expected by mid-January.