Davie (Fla.) Police Pension Plan is searching for an active domestic small-cap equity manager to run $10 million.
The $171 million pension fund is seeking a manager to run either a core or value strategy, according to an RFP posted on the website of Dahab Associates, the pension fund's investment consultant.
A reason for the search was not provided. The pension fund's most recent investment report shows PNC Capital Advisors running $10 million in active domestic small-cap core equities as of March 31. In May, Federated Investors announced it planned to acquire nearly $14 billion in assets from PNC: about $9 billion in money market assets, $4.2 billion in equity assets and $700 million in fixed-income assets. Whether the firm is invited to bid for the services could not be immediately learned.
The RFP is available on Dahab Associates' website. Proposals are due at 5 p.m. EDT on Aug. 30. A timetable for a decision has yet to be determined.
Steven Roth, Dahab Associates' chief investment officer, could not be immediately reached to provide further information.