Annapolis (Md.) Police & Fire Retirement Plan is searching for emerging managers to run domestic equity or domestic fixed-income strategies, said Joseph Karpinski, area executive vice president, at Arthur J. Gallagher & Co., investment consultant to the pension fund.
Mr. Karpinski said the pension fund is looking for the “best of the best” emerging mangers; there are no specific style requirements.
Individual allocation sizes have not been determined. However, the pension fund is looking to allocate roughly 10% of its overall $160 million portfolio to the emerging managers program. The pension fund does not currently have any emerging managers.
Funding will come from rebalancing; there are no plans to terminate any existing managers.
The RFP is available on Gallagher’s website. Proposals are due by 5 p.m. EST on Dec. 30. A hiring decision could be made late in the first quarter or early in the second quarter of 2015, Mr. Karpinski said.