Pontiac (Mich.) General Employees' Retirement System is searching for active domestic large-cap equity managers, said Steven Roth, chief investment officer at Dahab Associates, the $470 million pension fund's investment consultant.
The pension fund issued an RFP to cover its entire $94 million large-cap equity allocation, Mr. Roth said, and will likely hire managers to run core, value and growth portfolios.
Dahab, the pension fund's new consultant as of July 1, is conducting an asset allocation study for the pension fund, the results of which it will present to the board at the end of the month, Mr. Roth said, so the precise size of the large-cap portfolio and the number of managers to be hired is still to be determined.
All current managers are invited to rebid; Mr. Roth said there are about 15 current large-cap managers.
Proposals are due at 5 p.m. EDT on Oct. 24. A timetable for a decision has yet to be determined.
The RFP is available on Dahab's website.
Deborah Munson, interim executive director, could not be immediately reached to provide further information.