New Orleans City Employees' Retirement System will search for a domestic large-cap core equity manager to run $25 million, confirmed Jesse Evans Jr., director of the $365 million pension fund.
The pension fund is looking for active managers benchmarked to the S&P 500 index, but will also consider enhanced index managers. A funding source has yet to be determined, although it will likely be from a combination of reductions and terminations of managers, Mr. Evans wrote in an e-mail.
Proposals will be due Feb. 21. A timetable for a decision has yet to be determined, but Mr. Evans expects a decision should be made late in the first quarter or early in the second quarter.
The RFP will be posted by the end of the week on the city's website.
Managers should contact Jim Mooney, research analyst at The Bogdahn Group, the pension fund's investment coBogdahn Group, the pension fund's investment consultant, at [email protected] for a due diligence questionnaire.