Taunton (Mass.) Contributory Retirement System is searching for two active domestic midcap equity managers to run a total of $32 million.
The $382 million pension fund is planning to hire two managers to run $16 million each in growth and value strategies, said Kevin Condy, director of research at investment consultant Dahab Associates, which is assisting with the search.
The pension fund is issuing the RFPs to satisfy state retirements that services are put up for bid every seven years, Condy said. Current growth manager Frontier Capital Management and current value manager Allspring Global Investments are both invited to rebid, he said.
As of Sept. 30, the actual allocation to domestic midcap equities was 11%; the target is 10%.