US - The $6bn Indiana State Teachers Retirement Fund (ISTRF) has put its first private equity mandate out to tender.
The ISTRF is looking for managers who wish to be considered for a discretionary separate account of diversified private equity partnerships. As revealed by IPN in August, the selected manager will run approximately $150m for the fund, filling its 5% private equity allocation target.
Additionally, the ISTRF said that the search is open to all investment managers, particularly minority and women-owned firms, as well as Indiana-based firms.
The search closes on December 12, with a decision expected sometime in the first quarter of 2002. Callan Associates is assisting with the search, and interested parties should contact Craig White at the consultants’ San Francisco office.
By Geoffrey Ho
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.