US - The Indiana Public Employees' Retirement Fund (PERF) has launched a search for a manager to develop its US$100m emerging managers initiative.
A manager of managers approach is the best way of identifying and tapping the strongest talent in this sector, according to the fund.
PERF executive director, Terren B Magid, said: “We’re confident there are some hidden gems among emerging investment managers in Indiana.”
Magid continued: “Much of this talent may have been overlooked by major investors due to a firm’s small size or relative newness in the market.”
The $17.4bn fund announced in February it would invest between $5m and $15m with small, minority or women-owned managers, both state and nationwide.
PERF said said the contract duration for the manager of managers initiative would be for between two and ten years.
The deadline for enquiries is 6 August 2007 at 3pm (EDT) and submissions must be in by 24 August 2007 at 3pm (EDT).
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