Pontiac (Mich.) General Employees' Retirement System is searching for an active domestic small-cap growth equity manager to run about $19 million.
The $432 million pension fund is seeking an active manager benchmarked to the Russell 2000 Growth index, according to an RFP posted on the website of Dahab Associates.
As of March 31, the pension fund had three small-cap equity managers, according to its most recent investment report: Loomis Sayles & Co., which ran $16 million in an active value portfolio; Kennedy Capital Management, $13 million in active core; and Northern Trust Asset Management, $13 million in passive growth.
How the new portfolio will be funded could not be immediately be determined.
As of March 31, the pension fund's actual allocation to domestic equities was 45.6%.
The RFP is available on Dahab Associates' website. Proposals are due at 5 p.m. EDT on Sept. 2. A timeline for a selection has yet to be determined.
Deborah Munson, the pension fund's executive director, and Kevin Condy, director of research at Dahab, could not be immediately reached for further information.