CalSTRS named nine firms to a pool of managers to construct, manage and monitor a manager-of-managers fund made up of emerging managers.
The $193.1 billion California State Teachers' Retirement System, West Sacramento, issued an RFP in April for equity managers to make up pools that would be used to replace firms that might be terminated in the future or to add firms as necessary. The managers in the pool will be eligible to be hired in such cases, but according to that RFP, no specific plans to do so were in place.
According to a notice of intent to award on CalSTRS' website, the managers named to pools were:
- Attucks Asset Management, domestic small-cap core, international, global and domestic all cap;
- Bivium Capital Partners, domestic microcap, international and domestic all cap;
- Capital Prospects, domestic small-cap value and domestic all cap;
- EACM Advisors, domestic all cap;
- FIS Group, international, global and emerging markets;
- Leading Edge Investment Advisors, domestic small-cap core and international;
- Legato Capital Management, domestic small-cap core, domestic small-cap growth and global;
- Northern Trust Asset Management, international; and
- Progress Investment Management, international and global.
Ricardo Duran, CalSTRS spokesman, said in an e-mail that the RFP was issued to “replenish an existing pool, which is part of the CalSTRS global equity emerging manager program that has existed since 2006.”