Florida Prepaid College Board, Tallahassee, is searching for an active domestic midcap or smidcap equity manager to run about $182 million for the $15.6 billion Stanley G. Tate Florida Prepaid College Program and $32 million for the $571 million Florida 529 Savings Plan.
According to an invitation to negotiate posted on the state of Florida's procurement website, the board is seeking a manager to establish "separate accounts for each program, consisting of publicly traded mid- or smidcap securities complying with applicable state and federal statutes." Both plans currently have Boston Co. Asset Management as an active midcap manager and Fiduciary Management Associates as an active small-cap manager. Further information could not be immediately learned.
The ITN is available on the state of Florida's procurement website. Proposals are due at noon EDT on Aug. 8. A notice of intent to award will be posted in October or November.
Bert Wilkerson, director of finance, accounting and risk management, could not be immediately reached to provide further information.