Chicago Metropolitan Water Reclamation District Retirement Fund is searching for a passive domestic large-cap equity manager and passive domestic midcap manager to run about $95 million and $50 million, respectively, said Susan Boutin, executive director, in an e-mail.
Funding sources and whether any existing mangers will be terminated as a result of the search have not been determined, said George Kirie, financial analyst with the pension fund.
It is “prudent” to consider passive management, “especially in areas of the market where active management has a harder time keeping up,” said Mr. Kirie on the reason for the search.
The joint RFP will be posted on the $1.3 billion pension fund’s website on Feb. 2. A hiring decision could be made at the March 25 board meeting, Mr. Kirie said.
Interested candidates can bid on both searches, Ms. Boutin wrote. Investment consultant Marquette Associates is assisting with the search.
The pension fund has a 55% target allocation to domestic equities.