Spokane (Wash.) Employees’ Retirement System is conducting an invitation-only search for an active international small-cap equity manager, said Phillip Tencick, retirement director.
The $290 million pension fund’s investment consultant, Hyas Group, will be providing a shortlist of potential managers at a future board meeting because of performance concerns with current manager Epoch Investment Partners, which runs $9 million.
Mr. Tencick said it is yet to be determined whether the chosen manager would replace Epoch or complement Epoch’s portfolio. He could not provide further information.
John Wachter, managing director, marketing, at Epoch Investment Partners, did not immediately return a phone call seeking comment.
Separately, the pension fund will name finalists in its investment consultant search at its Sept. 30 meeting. The pension fund issued an RFP in May due to the impending expiration of Hyas Group’s contract; the firm was invited to rebid.