Ohio Public Employees Retirement System, Columbus, will search in the first quarter of 2014 for active emerging markets equity managers, confirmed spokesman Michael Pramik.
The board of the retirement system, which includes $71.9 billion in defined benefit plan assets, approved the searches at its meeting Wednesday.
Mr. Pramik wrote in an e-mail that the searches are “maintenance” searches as part of a “review of what we're doing with the possibility that we may move money into active management in small cap and maybe — or maybe not — hire managers in global emerging markets.”
The total portfolio size of global emerging markets is $3.8 billion, of which $754 million is in small-cap strategies.
The searches are expected to be completed by the end of the first quarter. No RFPs will be issued.
Separately, the pension fund added $50 million to its direct investment in CQS Diversified Fund, a credit-oriented multistrategy hedge fund, bringing the total invested in the fund to $100 million.