New Mexico Educational Retirement Board, Santa Fe, issued an RFP for an emerging markets equity manager to run about $400 million.
The contract of incumbent manager Robeco expires March 31, 2015. Robeco can rebid, said information on the website of the $11.3 billion pension fund's general investment consultant, NEPC.
The search is for a long-only strategy; hedge funds will not be considered. Minimum criteria include assets under management of at least $750 million; a five-year GIPS-compliant performance track record in the strategy; and the ability to show that the team responsible for the track record has worked together continuously for at least the past five years, the RFP states.
Responses are due Sept. 5. Finalists are expected to be interviewed Oct. 30, with a decision announced Oct. 31. The contract would begin on Dec. 1. The RFP is located on NEPC's website.
Bob Jacksha, chief investment officer, confirmed the search.