Philadelphia Gas Works Retirement Reserve is searching for one or more active emerging markets fixed-income managers, said Christopher DiFusco, chief investment officer for the Philadelphia Sinking Fund Commission, trustee for the pension fund, in an e-mail.
The $483 million pension fund issued the RFP to “offer an alternative” to incumbent active domestic core intermediate fixed-income managers who run a total of $119 million. Mr. DiFusco said the commission has yet to decide on an amount if it decides to make a selection.
Proposals are due at 5 p.m. EDT on Sept. 16. A selection is scheduled for Nov. 9
The RFP is available on the city’s procurement website.
Separately, the commission at its July 13 meeting approved the hiring of RhumbLine Advisers to run $22 million in passive international equities. The pension fund issued an RFP in February. Northern Trust Asset Management was the other finalist. A funding source has yet to be determined.