Lauderhill Firefighters' Retirement System, Palatka, Fla., is searching for an international growth equity manager to potentially replace Manning & Napier, said Barbara White, plan administrator.
Manning & Napier is “on alert” for underperformance, and the pension fund board wants to see what other managers are out there, Ms. White said. Manning & Napier currently manages about $3 million in international growth equity.
Nicole Kingsley Brunner, spokeswoman at Manning & Napier, declined to comment.
As of June 30, the $62 million pension fund had a 10% allocation to international equity.
The RFP is available on investment consultant Dahab Associates' website. Proposals are due by 5 p.m. EST on Dec. 30. A timeline for a hiring decision has not been set.