Oakland (Calif.) Police and Fire Retirement System is searching for two passive managers to run a total of between $20 million and $30 million.
The $389 million pension fund is seeking a passive international equity manager and passive long-duration U.S. Treasury manager to run between $10 million and $15 million each, according to an RFP posted on the website of Meketa Investment Group, the pension fund's investment consultant.
State Street Global Advisors currently runs $14 million in passive international equities, and the pension fund has $13 million invested in a Vanguard long-term Treasury ETF. Whether the managers are invited to rebid could not be immediately learned.
The passive long-duration Treasury portfolio will fall within the pension fund's crisis risk offset asset class. As of June 30, the actual allocations to international equities and crisis risk offset were 12.2% and 9.7%, respectively. Their respective targets are 12% and 10%.
The RFP is available on Meketa's website. Proposals are due at 5 p.m. PDT on Oct. 25. A timeline for a decision was not provided.
Teir Jenkins, investment officer, could not be immediately reached to provide further information.