Metropolitan District Commission, Hartford, Conn., is searching for domestic equity managers to run a total of $50 million for its $225 million pension fund, said Kevin Condy, research analyst at Dahab Associates, the commission's investment consultant.
The commission issued three RFPs for equity managers because it plans to make a large contribution of $40 million to $50 million to the pension fund and wants to further diversify the domestic equity portfolio with the additional money, Mr. Condy said.
The commission issued RFPs for domestic large-cap, midcap and small-cap equity managers to run totals of $30 million, $10 million and $10 million, respectively. Funding will come from those contributions. All styles will be considered.
The large-cap RFP, midcap RFP and small-cap RFP are all available on the Dahab's website, which is assisting with the search. Large-cap proposals are due on Feb. 13, midcap on Feb. 14 and small cap on Feb. 15, all at 5 p.m. EST on their respective days. Timelines for decisions have yet to be determined.