Sanford (Fla.) Police Officers' Pension Fund is searching for two active domestic large-cap equity managers to run $5 million each in growth and value portfolios.
The $50 million pension fund has issued an RFP for a value manager due to Wintrust Financial's acquisition of current manager Rothschild Asset Management, said Kevin Condy, director of research at investment consultant Dahab Associates, which is assisting with the search.
Wintrust is the owner of Great Lakes Advisors, which is taking over Rothschild's assets. Mr. Condy said it is likely the current Rothschild strategy will change or be dissolved, but Great Lakes Advisors is invited to rebid.
Mr. Condy said the pension fund has also issued an RFP for a growth manager after deciding it would be prudent to do so since the value portfolio is being put out to bid. Current manager Sawgrass Asset Management is invited to rebid.
The pension fund's actual allocation to domestic large-cap equities is 29.8%; the target is 30%.
The growth RFP and value RFP are both posted on Dahab Associates' website. Proposals for both portfolios are due at 5 p.m. EDT on July 21. A timeline for selections has yet to be determined.
