Franklin Regional Retirement System, Greenfield, Mass., is searching for a midcap equity manager or managers to run between $10 million and $15 million. Growth, value and core proposals all will be accepted.
The search is being conducted to comply with state law, confirmed Dale Kowacki, executive director of the $150 million retirement system. Seizert Capital Partners is the current midcap manager and is invited to rebid.
The pension fund’s current target allocation to midcap core/value midcap is 5%, but the retirement system intends to double the allocation to 10% once it concludes this search. Funding will come from reducing the fund’s overall target allocation to fixed income.
Dahab Associates, investment consultant to the defined benefit plan, is assisting with the search.
The RFP is available on Dahab's website. Proposals are due by noon EST on Jan. 25. The board will interview managers in April.