Franklin Regional Retirement System, Greenfield, Mass., is searching for an active large-cap growth equity manager to run about $7 million and an active small-cap core equity manager to run about $5 million.
Dahab Associates, investment consultant to the $120 million pension plan, is assisting with the search.
The large-cap search is being conducted to comply with state law requires contracts to be rebid every few years, said Dale Kowacki, executive director of the retirement system. Polen Capital is the current manager and is invited to rebid.
The small-cap search, meanwhile, is being conducted because its current manager, Daruma Capital Management, is underperforming, Mr. Kowacki said. Daruma is still invited to rebid. Martha Everett, director of client service at Daruma, could not be immediately reached for comment.
The RFPs are available on Dahab’s website. Proposals are due by 3 p.m. EDT Nov. 3. Selection dates have not yet been determined.