Philadelphia Board of Pensions and Retirement is searching for an active developed market international large-cap core equity manager, said Christopher R. DiFusco, chief investment officer for the $5.6 billion pension fund.
Although the amount to be allocated is not yet determined, the pension fund's actual allocation to actively managed developed market international large-cap core mandates was about 2%, or roughly $112 million, as of Oct. 31.
The search is being conducted to either replace or complement the board's current manager, Causeway Capital Management. Because Causeway is under contract, it does not need to rebid, Mr. DiFusco said.
Minority, women or disabled-owned investment managers are encouraged to bid, the RFP said.
The RFP is available on Philadelphia's procurement website. Registration is required. Proposals are due 5 p.m. EST Jan. 23. A selection date was not disclosed.