Westland (Mich.) Police and Fire Retirement System is searching for a small-cap core equity manager to run $8 million for the $150 million pension fund.
Westland is splitting its current smidcap core equity allocation into midcap and small-cap segments, according to Kevin Condy, a research analyst with Dahab Associates, the system's investment consultant. Loomis Sayles, the current smidcap manager, can rebid.
System officials are reviewing candidates for the midcap portion of the smidcap portfolio, Mr. Condy said. That RFP was issued in November and is now closed.
The small-cap RFP is available on Dahab's website. Proposals are due 5 p.m. EDT May 10. A timetable for selecting a manager has yet to be determined.
The system has a target allocation of 10% to smidcap equity, said Mr. Condy.