Philadelphia Gas Works Retirement Reserve issued an RFP for a passive large-cap domestic equity manager, confirmed Charles C. Jones, executive director of the Philadelphia Sinking Fund Commission, the trustee for the $500 million defined benefit pension fund.
This is a new allocation and should total about $72 million with the possibility of being increased. Mr. Jones said the funding source had not been determined yet.
The RFP can be found on eContract Philly, the city's purchasing website.
Proposals are due March 14. A decision is expected to be made sometime in May.
