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.