St. Louis Firefighters' Retirement Plan will launch a search for an international equity manager to run about $7 million in the next week, said Janice Fairless, human resources specialist.
The $22 million pension fund is issuing an RFP as a result of an asset allocation study completed in June that set a 30% target to international equities.
Other targets are 30% to domestic large-cap equities and 20% each to domestic smidcap equities and core fixed income. The pension fund has already selected Great Lakes Advisors as a smidcap equity manager and Garcia Hamilton & Associates as an active fixed-income manager. A large-cap equity search will follow.
The Firefighters' Retirement Plan was created Feb. 1, 2013, the same day that benefit accruals were frozen in the $445 million St. Louis Firemen's Retirement System.
Ms. Fairless did not have due date information, but the RFP will be posted within the next week on Dahab Associates' website. Dahab is the pension fund's investment consultant.