HPRS says it is seeking to identify candidates that may complement its existing investments which, in the aggregate, are structured with the goal of “meeting or exceeding the System’s 8% actuarial rate of return without taking undue risks”.
According to the announcement, HPRS is interested in evaluating managers who are qualified to operate an investment of approximately $10,000,000, and the “product of interest” should be a long only domestic equity strategy focused exclusively on Micro Cap, according to HPRS.
HPRS says that the selected firm will:
- be a SEC registered investment adviser;
- have at least $50 million in assets under management and at least $20 million in the particular product being offered; and
- have at least 5 years in operation as a firm.
Additionally, respondents that may be classified as Ohio-based and/or minority/female-owned companies as defined by the Ohio Revised Code should indicate as such.
Qualified candidates electing to respond to this RFP must submit their proposal electronically no later than June 20, 2010. An initial review will be done via a review of quantitative data, and qualitative reviews will be conducted with a select group of candidates after the initial review.
More information is available at https://www.ohprs.org/ohprs/Investments.jsp