PERF Searches Indiana, Nation for Manager of 'Emerging Managers'
Emerging Managers initiative targets small, minority- and women-owned firms
INDIANAPOLIS (July 23, 2007) – The Indiana Public Employees’ Retirement Fund (PERF) has launched a search for a manager of its $100 million emerging managers initiative announced in February.
The emerging managers initiative would place investments of between $5 million and $15 million with small, minority- and women-owned investment management firms in Indiana and across the nation.
“Our primary objective is to optimize returns to the fund. We’re confident there are some hidden gems among emerging investment managers in Indiana and the nation that will help us do that,” said PERF Executive Director Terren B. Magid. “Much of this talent may have been overlooked by major investors due to a firm’s small size or relative newness in the market.”
PERF opted to search for a ‘manager of managers’ as the best approach to make certain the strongest talent among emerging managers was identified and tapped. This manager of managers will bring a set of highly-specialized skills grown from years of experience with small, women- and minority-owned investment management firms.
“We’re looking for a ‘manager of managers’ with a proven track record in building and maintaining successful emerging manager programs,” Magid said.
For more information on the search for a ‘manager of managers,’ see the Request for Proposal
The Public Employees’ Retirement Fund (PERF) is a $17.4 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
