PERF to Initiate Emerging Managers Program
Initiative to focus on small Indiana, minority-owned and women-owned firms
INDIANAPOLIS (Feb. 9, 2007) - An emerging managers program initiated by the Indiana Public Employees' Retirement Fund will seek out investment opportunities with small firms in Indiana as well as minority-owned, and women-owned firms.
The initiative is aimed at identifying excellent investment opportunities that may have been overlooked due to a firm's size or relative newness in the market.
"We know that there are some very talented fund managers that may not have the size to attract the attention of large funds," said PERF Executive Director David Adams. "By initiating an emerging managers program, we hope to identify and capitalize on exceptional talent in Indiana and among women and minority owned firms."
PERF's emerging manager program will focus on firms with less than $2 billion in assets under management. The smaller size means PERF will be able to invest less with each firm.
Under the new initiative, PERF will issue an RFP to identify a small team of emerging managers. Each manager selected would receive an initial two-year contract subject to renewal or termination based on performance. These new managers will be held to the same rigorous performance criteria as PERF's existing managers.
The emerging managers RFP is likely to be issued in mid 2007 with board consideration of selected firms in late 2007. Funding of investments with the new managers is likely to occur in early 2008.
The Public Employees' Retirement Fund (PERF) is a $16.1 billion retirement fund headquartered in Indianapolis that serves the needs of more than 220,000 public employees and retirees throughout Indiana.
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CONTACT:
Jeff Hutson
Director of Communications
(317) 234-3401
jhutson@perf.in.gov
