CalSTRS is searching for up to three managers to run a total of up to $1.2 billion in active emerging markets equities, confirmed spokesman Ricardo Duran.
The $171.9 billion California State Teachers' Retirement System, West Sacramento, is conducting the search in an effort to refresh and diversify its pool of emerging markets equity managers, Mr. Duran said in a telephone interview.
Mr. Duran said emerging markets equity managers typically run $100 million or more each, but a specific amount for each manager, as well as a funding source, has yet to be determined.
The search will also establish a new pool of qualified investment managers from which the pension fund can select firms in case a replacement is needed.
No managers are scheduled to be terminated.
Interested managers must upload their most updated information, which should be current through June 30, to the eVestment database by 5 p.m. PST on Nov. 8. Finalist interviews are tentatively scheduled for Jan. 29, 2014, with a notice of intent to award scheduled for Feb. 19, 2014.
Information on the search can be found on CalSTRS' website.
