Cambridge (Mass.) Retirement System is searching for a passive domestic large-cap growth equity manager to run $60 million, confirmed Rafik Ghazarian, vice president at Segal Rogerscasey, investment consultant to the plan.
The $950 million pension is looking to potentially replace an active manager running the same amount of assets, Mr. Ghazarian said in a telephone interview. He declined to name the manager, but said the decision is not performance related and that the plan wants to move to a lower-fee, passive strategy.
The pension fund will consider proposals for commingled funds and separate accounts. The portfolio will track the Russell 1000 Growth index.
The contract is for five years.
The RFP is available on Segal Rogerscasey's website. Proposals are due at 3 p.m. EDT Oct. 21. A hiring decision is expected by the end of the year.