CalSTRS is searching for three managers to run non-U.S. developed markets equity strategies.
In addition to awarding the contracts, the $186.6 billion California State Teachers’ Retirement System, West Sacramento, will establish a pool of “qualified investment management firms that will be used to replace firms that might be terminated in the future” or to add additional firms, the RFP said.
The size of each allocation has not been determined yet.
CalSTRS currently has about $27 billion in developed markets equity assets, in both passive and active strategies, spokesman Ricardo Duran said in an e-mail.
Applicants must upload their proposal to the eVestment database by Sept. 30 at 5 p.m. PDT.
For more information applicants, can contact eVestment at 866-408-3273 or at [email protected].
CalSTRS plans to conclude the manager selection process by late 2014 but has not set exact dates.
The RFP is available on CalSTRS’ website. CalSTRS plans to make a decision by the end of the year.
Separately, CalSTRS announced Thursday in an update on its corporate governance program that 86 of the 93 companies, or 92%, with which it engaged in the 2014 proxy-voting season adopted a majority voting standard in corporate board elections.
“Our 92% success rate this year is particularly satisfying, because we changed our focus from large- to small-cap companies,” said Anne Sheehan, CalSTRS director of corporate governance, in a statement.