Searches and Hires

Fort Lauderdale General Employees casts net for value equity manager

Fort Lauderdale (Fla.) General Employees' Retirement System is searching for an active domestic midcap value equity manager to run about $40 million, said Nick Schiess, retirement administrator.

The $675 million pension fund issued an RFP for due diligence purposes, Mr. Schiess said. The current manager, Lord Abbett & Co., is invited to rebid.

As of June 30, the pension fund's actual allocation to domestic value equities was 22.5%.

The RFP is available on the website of Dahab Associates, the pension fund's investment consultant, which is assisting with the search. Proposals are due at 5 p.m. EDT on Nov. 1. A timetable for a decision has yet to be determined.