Texas Employees Retirement System, Austin, is searching for domestic large-cap equity managers.
The $30.9 billion pension fund issued an RFP for external managers of large-cap core, growth and value equities within its $12.8 billion global public equity portfolio.
According to the RFP posted on the state's procurement website, ERS is seeking multiple managers to create a select pool from which the retirement system will select managers to provide services on an as-needed basis.
In a report from the pension fund's joint board and investment advisory committee meeting held remotely Dec. 9, the investment staff said they believed it was time to refresh the select pool because a search had not been conducted since 2010.
Barrow, Hanley, Mewhinney & Strauss and Brandywine Global Investment Management were listed as external value managers in that report. The portfolio sizes were not provided.
About 27% of the retirement system's global public equity portfolio is externally managed, with the remainder under internal management. Domestic large-cap equities accounted for 42% of the overall portfolio as of Dec. 31, spokeswoman Mary Jane Wardlow said in email.
Ms. Wardlow said existing managers in the pool do not need to respond to the RFP.
The RFP is available on the state's procurement website. Proposals are due at 5 p.m. CDT on April 17. Approval of the select pool by the asset class investment committee is scheduled for February 2022.
