Pittsburgh Comprehensive Municipal Pension Trust is searching for emerging and minority-, women-, veteran- and disabled person-owned managers to run portions of the $668 million pension fund's investment portfolio, said Paul Leger, executive director.
This search is not intended to replace or displace current managers.
There is no set number of managers, specific amount to be allocated or set strategies being sought, though selected managers “will probably start with small investments, which may increase if performance warrants an increase,” said a list of answers to frequently asked questions that Mr. Leger provided.
The RFP is available on the city's website. Proposals are due by 4 p.m. EST on Nov. 9. Selections could be made as late as March 2016.
Investment consultant Marquette Associates is assisting.