An RFP was issued in January because of the firm’s June 30 contract expiration.
Separately, the $14.4 billion pension fund could issue an RFP for active international equity managers some time in the next two weeks.
The $14.4 billion pension fund is not targeting a particular strategy, and a final allocation size has not been determined but could range from $500 million to $900 million.
Any new managers will be funded from a $904 million international large-cap equity portfolio passively managed by Northern Trust Asset Management.
The RFP will be available on the pension fund’s website.