New York City Search for U.S. Equity Small Capitalization Managers Investment Management Services


The Comptroller of the City of New York (the "Comptroller"), acting on behalf of the New York City Retirement Systems and related funds, is conducting a manager search to identify investment management firms to manage U.S. equity small capitalization portfolios for one or more of the New York City Retirement Systems (the "Systems").

The Comptroller's Office is using a pilot process to conduct this search, as permitted and in accordance with Section 3-12 (Innovative Procurement Methods) of the Procurement Policy Board Rules of the City of New York ("PPB Rules"). Under the pilot process, the Systems' consultants and the Comptroller's Office will use industry databases to identify the universe of U.S. equity small capitalization equities managers that are potential candidates for hiring by the Systems, rather than limiting that review to only those managers that respond to a formal Request for Proposals (RFP). In addition to opening the procurement process to a broader universe of managers and greater competition, goals of the pilot process include facilitating the Systems' ability to identify and hire the highest qualified managers based on performance and organizational strength, and shortening the amount of time it takes to complete the manager selection process. The pilot process also reduces administrative requirements for firms relating to submission of a formal RFP response, which should be helpful to smaller firms in particular. The Comptroller’s Office anticipates testing this pilot process in solicitations for other asset classes over the coming months.

Please see the Notice of Solicitation posted on the Comptroller's website at www.comptroller.nyc.gov for a full description of the pilot process and minimum requirements, as well as easy steps that managers can take to ensure they are considered as part of this solicitation. Select "Bureaus" then "Asset Management" then "Investment Management Searches."

The following Systems are participating in this Procurement:
the New York City Employees' Retirement System ("NYCERS"), the Teachers' Retirement System of the City of New York ("TRS"), the New York City Police Pension Fund, Subchapter 2 ("Police"), the New York City Fire Department Pension Fund, Subchapter Two ("Fire"), and the New York City Board of Education Retirement System ("BERS").




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