Kern County Employees' Retirement Association, Bakersfield, Calif., is searching for active long-only Japan public equity managers to run a total of between $50 million and $125 million, said Daryn Miller, chief investment officer, in an email.
It is the $5.1 billion pension fund's first search for managers with Japan equity products, and any potential hirings will be funded through reductions in other asset classes, Mr. Miller said.
As of Dec. 31, the pension fund had three international developed markets equity managers: Mellon Investments, with a $471 million passive portfolio, and active managers American Century Investments and Cevian Capital, with portfolios of $69 million and $34 million, respectively.
The RFP is available on KCERA's website. Proposals are due at 2 p.m. PST on March 1. A timeline for a selection has yet to be determined.