St. Louis Employees’ Retirement System is searching for an emerging manager to run about $5 million in active domestic large-cap core equities, said Richard Olliges, accounting officer.
The $780 million pension fund approved at its board meeting Monday issuing an RFP for its second emerging manager. The pension fund hired Granite Investment Partners in July to run about $5 million in active domestic small-cap core equities.
Mr. Olliges said the pension fund hopes eventually to have about 5% allocated to emerging managers, or about $39 million. The timeline for completing the full allocation has yet to be determined. Funding will come from rebalancing, and no managers will be terminated.
The RFP will be posted this week on the pension fund’s website. Proposals will be due in mid-October. Mr. Olliges said a decision will likely be made by the end of January at the earliest.
Investment consultant Summit Strategies Group is assisting.