CalSTRS launched an RFP to establish up to two pools of non-U.S. developed market equities managers.
One pool may be for emerging managers of non-U.S. developed markets equity strategies and the other may be for emerging managers of managers, the RFP said. These manager pools would be used to invest in new strategies as warranted by pension fund officials. CalSTRS defines what it calls a "developing manager" as a firm with less than $5 billion in assets under management.
Officials at the $242.1 billion California State Teachers' Retirement System, West Sacramento, may also award multiple contracts to developing managers for money management services, with the amount invested to be determined.
Proposals are due by 2 p.m. PST on Nov. 27. CalSTRS has not yet determined when the staff would make a decision. The RFP is available on the state's procurement website.