West Sussex County Council Pension Fund, Chichester, England, is looking for a balanced fund manager to run a £1.2 billion ($2 billion) allocation.
The £2.6 billion pension fund is looking to hire a manager to take on an allocation run by Baillie Gifford, said an announcement filed with European procurement website Tenders Electronic Daily. It could not be learned by press time whether Baillie Gifford can rebid.
This allocation makes up more than half of a total £2.2 billion total allocation to balanced portfolios, with the remainder managed by UBS Global Asset Management.
Applications are due Oct. 6; the timetable for a decision could not be learned by press time.
The RFP is available on TED.
Executives at the pension fund could not be reached for comment by press time.