Texas Emergency Services Retirement System, Austin, is searching for a core fixed-income manager to run approximately $9 million, said Michelle Jordan, executive director.
The $92 million pension fund is invested in Pacific Investment Management Co.’s Total Return Fund and is seeking another manager to diversify the portfolio.
PIMCO’s allocation will be reduced to fund the new manager, Ms. Jordan said. She could not immediately provide the size of PIMCO’s allocation.
The deadline for proposals is 5 p.m. CST on Feb. 16. Finalist presentations are tentatively scheduled for June 16, with a hiring decision expected on the same day.
The RFP is available on a state procurement website.