US - The $9.2bn Kansas Public Employees Retirement System (KPERS) is conducting a search for manager to run up to $750m in core-plus fixed income.
The winning manager will run between $250m and $750m for KPERS, and will be benchmarked to the Lehman Brothers Aggregate Index. Interested managers must satisfy the following criteria: the firm must have been in existence for at least five full years; total assets management must exceed $10bn, with at least $1bn of those assets in fixed income.
Additionally, managers must run core-plus bond mandates for at least six other existing US based, tax-exempt clients. Each of those mandates should be worth $300m or more. Of the six minimum clients, at least three should be public fund clients.
The closing date for expressions of interest is January 4, 2002. The fund expects to hear presentations from finalists on February 15, with a final decision expected a month later in March.
Pension Consulting Alliance is assisting the fund with the search.
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