San Jose (Calif.) Federated City Employees Retirement System has reissued an RFP for a manager to provide an “outsourced investment function,” said Ron Kumar, investment officer.
The new RFP replaces one issued in November seeking chief investment officer services. The pension fund is searching for a manager to run at least 5% of its total portfolio on a discretionary basis.
Proposals are due at 4 p.m. PDT on May 9. A timetable for a decision has yet to be determined.
The RFP is available on procurement website BidSync. Registration is required.
Separately, Arn Andrews was named chief investment officer of both the $3 billion San Jose Police & Fire Department Retirement Plan and $2 billion federated city plan, Mr. Kumar said. He started last month.
Mr. Andrews was previously assistant director of finance for the city of San Jose, according to Mr. Kumar. He replaced Carmen Racy-Choy, who resigned in July 2012.
The police and fire retirement system's interim CIO since October 2013 has been Allan Martin, partner at the pension fund's investment consultant NEPC. Mr. Martin signed a six-month contract through the end of April to cover that position.