Milwaukee County Employees' Retirement System is searching for active non-U.S. small-cap equity managers to run a total of $65 million.
The $1.7 billion system could hire more than one manager, said the RFP.
Funding could come from terminating Grantham, Mayo, Van Otterloo, which manages $65 million in value-oriented active international small-cap equities, according to minutes of the Jan. 20 board meeting and Feb.1 investment committee meeting. The board placed GMO on alert for performance on Jan. 20.
Tyler Bradford, GMO spokesman, said, “GMO does not comment on client accounts.”
The RFP is available on the pension fund's website.
Proposals are due March 7. The board could make a decision in April.
Marquette Associates, the plan's investment consultant, is assisting with the search.
Marian Ninneman, director-retirement plan services, couldn't be reached for comment.