Vermont Pension Investment Committee, Montpelier, is conducting an invitation-only search for a manager to run a $112 million commodities portfolio for the $3.9 billion Vermont State Retirement Systems, said Stephen Rauh, chairman of the committee, in an e-mail.
The committee approved the search at its July 28 meeting because current manager Schroder Investment Management has been on watch for performance. Mr. Rauh added the committee has not decided to replace Schroders at this time.
Mr. Rauh said investment consultant NEPC will bring the shortlist of candidates to the committee's Sept. 22 meeting, and added an RFP would be issued only if NEPC is unable to provide suitable candidates.
Schroders spokeswoman Jessica Torchia declined to comment.
