Philadelphia Gas Works Retirement Reserve is searching for an active domestic large-cap core equity manager to run about $39 million for the $644 million pension fund, said Christopher DiFusco, chief investment officer for the Philadelphia Sinking Fund Commission and trustee of the fund
The pension fund has issued an RFP for a potential replacement for current manager PineBridge Investments, Mr. DiFusco said. The pension fund will consider retaining PineBridge as part of the RFP process and the firm is not required to rebid, he said.
PineBridge spokeswoman Brooke Rustad declined to comment.
The RFP is available on the Philadelphia finance department's procurement website. Proposals are due at 5 p.m. EDT on July 2. A timeline for a selection was not provided.