New Mexico Educational Retirement Board, Santa Fe, is searching for a passive international equity manager to run $200 million, confirmed Bob Jacksha, chief investment officer.
Funding is coming from terminating active international equity value and growth strategies managed by AllianceBernstein and Baring Asset Management, which total about $200 million. The $10.1 billion pension fund is “generally moving more toward passive” investments, Mr. Jacksha said in a telephone interview.
The international equity portfolio is rounded out with a $245 million active core international equity portfolio managed by Pyramis Global Advisors, which was rehired last month as part of a shortlist search.
The selected manager will run a strategy benchmarked against the MSCI EAFE index or MSCI EAFE + Canada index.
The RFP is available on investment consultant NEPC's website. Proposals are due at 3 p.m. EDT April 26. Finalist interviews and a hiring decision are expected on May 23.