The $1.8 billion pension fund is seeking a manager to run a long-only emerging markets debt portfolio and will consider mutual fund, commingled fund or limited partnership product options and not separate accounts.
According to its most recent available investment report, the pension fund had no assets in emerging markets debt as of June 30. As of that date, the pension fund had two fixed-income managers: Galliard Capital Management, running a $201 million active core fixed-income portfolio and Mellon Capital Management, running an $89 million passive core fixed-income portfolio. The actual allocation was 16.7%; the fixed-income target is 18%.
The RFP is posted on the county's administrative services website. Proposals are due at noon CST on Dec. 21. A timeline for a decision was not provided.
Investment consultant Marquette Associates is assisting.
Ben Mohr, senior research analyst-fixed income at Marquette, declined comment. Michael S. Harper, chairman of the board, could not be reached immediately to provide further information.