Searches And Hires
The city is seeking one or more firms to provide bundled services for its retirement plans.
The plans currently work with general investment consultant Segal Marco Advisors.
The district is seeking the services on behalf of its $415 million portfolio.
The pension system approved minimum qualifications in a search for at least one manager to handle $150 million to $250 million last week.
The RFP was approved at yesterday’s board meeting to increase the plan’s commitment to private core real estate and to non-core real estate.
The retirement system agreed to part ways with an active manager that had been on watch due to lagging performance.
The search will be conducted to replace domestic large-cap value equity manager Hamlin Capital Management, which was terminated last month.
The city is conducting a review of available services and currently utilizes PFM Asset Management.
The retirement system is searching for a U.S. small-cap growth equity manager to handle a $40 million mandate.
The city received five proposals in response to an RFP issued in April.
