Sunrise (Fla.) General Employees' Retirement System is searching for a domestic midcap value equity manager to run $20 million.
The $225 million pension fund issued an RFP due to the termination in the fourth quarter of WEDGE Capital Management, which ran a similar portfolio, because of performance concerns, said Kevin Condy, director of research at Dahab Associates, the pension fund's investment consultant.
Officials at WEDGE Capital Management could not be immediately reached for comment.
Mr. Condy said WEDGE ran about $30 million, $10 million of which will remain with an undisclosed index fund manager. Both active and passive managers are invited to respond to the RFP, he added.
As of Sept. 30, the actual allocation to domestic equities was 47.6%.
Dahab Associates is assisting with the search.
The RFP is available on Dahab Associates' website. Proposals are due at 5 p.m. EST on Feb. 12. A timeline for a decision has yet to be determined.
