Pembroke Pines (Fla.) Firefighters & Police Officers Pension Fund is searching for an active domestic large-cap value equity manager to run $35 million.
The $850 million issued an RFP due to the underperformance of current manager Bridgeway Capital Management, said Kevin Condy, director of research at investment consultant Dahab Associates, which is assisting with the search.
Bridgeway is invited to rebid, Condy said. Bridgeway Capital spokesman Tony Ledergerber could not be immediately reached for comment.
As of June 30, the pension fund's actual allocation to domestic equities was 52%; the target is 58%.
The RFP is available on Dahab Associates' website. Proposals are due at 5 p.m. EDT on Nov. 3. A selection is expected sometime in the fourth quarter, Condy said.
