Brunel Pension Partnership, Bristol, England, will search for two to four emerging markets equities managers to run an expected £1.3 billion ($1.7 billion) in assets, Chief Investment Officer Mark Mansley said.
The £30 billion local government pension scheme fund pool announced Tuesday it will begin the search early next year. The search relates to the pool's plans to launch its own emerging markets equities subfund. It will be the third subfund on Brunel's platform.
Mr. Mansley said the final number of managers will depend on the quality of responses received and the balance of skills presented. "We're looking to build the best overall combination of managers," he added.
Prior to the search's launch, Brunel wants to receive by email strategic research and thought-leadership pieces on investing in emerging market equities from money managers as it finalizes background research and prepares search documents. It does not want proposals, newsletters or strategy presentations now.
Managers interested in the search may also pre-register by sending an email with key organizational details to the same address, with the subject line "Brunel emerging markets."
Mr. Mansley added in an email that the search will be led and managed by Brunel.
Investment consultant Redington will provide additional research, insight and independent challenge, and manager skill analysis firm Inalytics will provide "quantitative insight into manager processes and help filter the list of interested respondents."
Brunel invests on behalf of 10 councils' LGPS funds: Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire.