Oakland County Retirement and Deferred Compensation Board, Waterford, Mich., is searching for an active U.S. small-cap value equity manager to run a total of $37 million for the county's $1 billion VEBA plan and $800 million defined benefit plan.
The manager will replace the current manager of the assets, GW Capital, which is closing, said Judy D. Fandale, retirement administrator, in an e-mail.
NEPC, the county's investment consultant, is conducting the search and will present a shortlist of prospective firms for review by the fund's board at a March 31 meeting, Ms. Fandale said. An RFP is not being issued.
The timing of NEPC's search process could not be learned by press time.