LGPS Central, Wolverhampton, England, is searching for managers to run about £1.5 billion ($2 billion) in active emerging markets equities.
The £40 billion asset pool, which invests for nine local government pension schemes, said in a notice on the procurement website of pool member Wolverhampton Council, that it wants managers to demonstrate a consistent, robust and repeatable investment process. They must have responsible investment at the heart of their investment process; run a concentrated portfolio; have low and fully transparent fees; and provide full transparency with the relevant custodian.
Proposals are due July 2. Further details are available on the Wolverhampton procurement website.
The participating pension funds in LGPS Central are Cheshire; Derbyshire; Leicestershire; Nottinghamshire; Shropshire; Staffordshire; Worcestershire; West Midlands Pension Fund; and the West Midlands Integrated Transport Authority.
A spokeswoman for the pool confirmed the search is underway.