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Florida City Launches Cash Manager Search

August 18, 2008 - The City of Tallahassee has issued an RFP for a manager to oversee a separately managed account for the city's general operating portfolio. The RFP notes that the mandate will consist of approximately $50 million in assets.

New Mexico STO Reissues Consultant RFP

August 18, 2008 - The New Mexico State Treasurer's Office (STO) has re-launched its search for an advisor due to changes in the criteria, said Joelle Mevi, CIO with the treasurer's office. The STO is looking for a firm to assist the office with the investments for the $3 billion General Fund, $1.7 billion Local Government Investment Pool and $1.3 billion Bond Proceeds Investment Pool.

Alameda Reviews TCW-Managed Portfolio

August 18, 2008 - The investment committee of the Alameda County Employees' Retirement Association (ACERA) was scheduled to review the Trust Company of the West (TCW) according to the agenda posted on the plan's site in anticipation of a meeting last Wednesday. ACERA met with Patrick Thomas, its consultant with Strategic Investment Solutions, and Craig Blum and Tracey Monroe of TCW to discuss the manager's $380 million domestic equity mandate, the document indicated. It was also noted that the board would consider authorizing a search for a large-cap growth domestic equity manager as part of the same discussion.

Fresno County Adopts New A/A

August 18, 2008 - The Fresno County Employees' Retirement Association (FCERA) has adopted a new asset mix which includes allocations to opportunistic fixed-income, hedge funds and real assets, said Roberto Pena, administrator at the $2.7 billion fund. The changes are due to the results of a recently completed asset/liability study conducted by Wurts & Associates.

San Diego Discusses Equity Manager

August 18, 2008 - The investment committee of the San Diego City Employees' Retirement System (SDCERS) was due to discuss the fate of Putnam Investments and its small-cap value domestic equity portfolio, confirmed Liza Crisafi, deputy CIO with the plan prior to a meeting last week. Crisafi explained that the board is considering terminating Putnam primarily due to performance issues, but also because of numerous organizational changes that have occurred within the firm since it was hired. Putnam has managed the approximately $88 million account since the early 1990's. The firm was put on SDCERS' watch list earlier this year after a decline in the portfolio's relative ranking (See IMW, 1/7/08).

Manchester To Interview FoF Managers

August 11, 2008 - The Manchester Employees' Contributory Retirement System (MECRS) is scheduled to meet with three private equity fund-of-funds managers this week, according to its Web site. The board will hear presentations from AIG Pinestar Capital, Landmark Equity Partners and Lexington Capital Partners, the document indicates.

Manager Could Be Out at New Mexico PERA

August 11, 2008 - The New Mexico Public Employees' Retirement Association (NMPERA) recently discussed stripping Smith Breeden Associates of a $764 million domestic core fixed-income mandate that it manages for the plan. According to the agenda from the Santa Fe plan's July 31 meeting, it was recommended that the funds from the terminated manager be allocated to Western Asset Management and Franklin Templeton who each manage core-plus mandates for the system.

Dallas Hospital Seeks Equity Manager

August 11, 2008 - The Parkland Health & Hospital System has launched a search for a manager to oversee the plan's approximately $25 million large-cap growth domestic equity portfolio. The fund oversees the pension system for the Dallas County Hospital District.

Oregon To Conduct Investment Review

August 11, 2008 - The Oregon Office of the State Treasurer (OST) has issued an RFP on behalf of the Oregon Public Employees' Retirement Fund (OPERF) for a firm to conduct an operational review of the plan's investment portfolio. Curt Hartinger, risk and compliance officer with the OST, explained that the plan is required by law to conduct such a review every four years.

Meketa Group Launches Twin Searches

August 4, 2008 - Meketa Investment Group is searching for managers who offer global listed infrastructure and global listed natural resource strategies, according to to an RFP issued by the Massachusetts-based consulting firm. Further details regarding the searches were unclear, as calls to Chris Tehranian, an associate with Meketa, were not returned by press time.

Alaska Perm Hunts for Real Estate Analyst

August 4, 2008 - The $37 billion Alaska Permanent Fund Corporation (APFC) is looking for a new real estate investment analyst, according to its Web site. The plan is looking for someone to assist the manager of real estate investments in 'conducting research and analysis and performing specific portfolio and manager oversight activities.'

WSIB to Establish New Manager Pool

August 4, 2008 - The Washington State Investment Board (WSIB) is establishing a pool of pre-approved transition managers to serve the plan on an as-needed basis, said John Lynch, search coordinator with the board. The board is looking for firms that can assist with needs resulting from portfolio liquidations, asset allocation shifts, portfolio rebalancing and other restructuring.

San Joaquin Considers New Asset Classes

August 4, 2008 - The $2.2 billion San Joaquin County Employees' Retirement Association (SJCERA) heard educational presentations on three asset classes last month, said Annette St. Urbain, CEO with the California plan. Consultant Strategic Investment Solutions presented information regarding currency hedging programs, inflation-linked asset classes and opportunity funds at the meeting.

Fresno Funds Consider New Allocations

August 4, 2008 - The joint board of the City of Fresno Retirement Systems (CFRS)-which consists of officials overseeing the $1.07 billion Employees' Retirement System and the $1.19 billion Fire & Police Retirement System-recently considered recommendations that would drastically alter the asset allocation and manager roster for the plans. According to the agenda for its meeting last week, CFRS' investment committee brought recommendations before the board that would reduce the plan's domestic equities allocation by 10%, dropping it down to 30% of the plan's assets, while increasing CFRS' international equities allocation by 8% and its emerging markets allocation by 2%, bringing them up to 25% and 5%, respectively.

CalPERS Seeks Inflation-Linked Firms

August 4, 2008 - The California Public Employees' Retirement System (CalPERS) is aiming to establish a pool of managers to oversee three types of inflation-linked asset class strategies: infrastructure, forestland and commodities. Clark McKinley, spokesman for the plan, said: 'Three of the four parts of the inflation-linked asset class are in place, with approved policies by the board (commodities, forestland and inflation-linked bonds). The infrastructure policy, which is more complicated, could go to the board as early as Aug. 18, when its investment committee considers the policy recommended by the investment committee policy subcommittee.'