New Orleans City Employees' Retirement System will search for a domestic large-cap core equity manager to run $25 million, confirmed Jesse Evans Jr., director of the $365 million pension fund.
The pension fund is looking for active managers benchmarked to the S&P 500 index, but will also consider enhanced index managers. A funding source has yet to be determined, although it will likely be from a combination of reductions and terminations of managers, Mr. Evans wrote in an e-mail.
Proposals will be due Feb. 21. A timetable for a decision has yet to be determined, but Mr. Evans expects a decision should be made late in the first quarter or early in the second quarter.
The RFP will be posted by the end of the week on the city's website.