LGPS Central, Wolverhampton, England, is seeking an additional active global equity manager to run a £750 million ($904 million) allocation to active global equity, a spokesman confirmed.
The selected manager will have a minimum of £500 million in external global active equity AUM as of Dec. 31., and a global equity strategy with at least a three-year track record.
LGPS Central is looking for an active manager with a fundamental rather than quantitative approach that can show strong performance in the quality-factor investment.
"Since the inception of our global equity active multimanager fund, the managers we work with have delivered above-benchmark returns, helping our clients generate the returns they require to ensure they can match their liabilities. As part of our ongoing management of the fund, an opportunity was identified to add a complementary manager to our current roster, to help boost the returns the fund delivers," Mark Davies, investment director for active equities at LGPS Central, said in a news release.
Members of the pool are U.K. local authority pension funds, which have a combined £55 billion in assets.
To participate in the search managers should apply through LGPS Central's procurement portal by noon Greenwich Mean Time on March 31. Registration is required. Successful applicants will be invited to complete an RFP.
LGPS Central expects to transfer assets to the new manager in the middle of 2023.