Oakland (Calif.) Police and Fire Retirement System is searching for an active international core equity manager to run between $40 million and $50 million, according to an RFP posted on the website of Meketa Investment Group, the $350 million pension fund's investment consultant.
According to meeting materials from the pension fund's Feb. 27 board meeting, predecessor consultant Pension Consulting Alliance (which Meketa has acquired) recommended the search because "managers should be given broad mandates subject to their areas of expertise" and the pension fund should search for a core equity manager to replace Fisher Investments and Hansberger Global Investors, which currently run $14 million each in active international equities and have value and growth tilts. The materials did not provide further information on the reason for replacing the managers or whether they would be invited to rebid.
The RFP is available on Meketa's website. Proposals are due at 5 p.m. PDT on April 29. A timeline for a decision was not provided.
Questions for David Jones, plan administrator, were referred to David Sancewich, executive vice president at Meketa, who could not be immediately reached to provide further informations.
