Westland (Mich.) Police and Fire Retirement System is searching for a core or intermediate-term fixed-income manager to run $14 million and a core real estate manager to run $6.5 million.
Both would be new allocations for the $165 million pension fund, said Steven Roth, chief investment officer of Dahab Associates, the pension fund's investment consultant.
Funding would come from rebalancing; no managers will be terminated.
The RFPs are available on Dahab's website. Proposals for the core real estate search are due at 5 p.m. EDT on Sept. 26. Proposals for the fixed-income search are due at 5 p.m. EDT on Oct. 23. Timetables for hiring decisions have yet to be determined.
Lisa Eggers, plan administrator, and Steven Smith, president of the board of trustees, did not respond to requests for further information by press time.