Four New York City public pension systems launched a search for passive public equity index managers, the first such solicitation since 2017, with proposals due July 15.
More than $127 billion of the systems’ nearly $320 billion in assets sits in public equities, and current equity index mandates are set to expire by the end of 2026.
The search covers cap-weighted, smart-beta and other indexed portfolios, while excluding leveraged, derivative-based and exchange-traded products.
Bidders must oversee at least $20 billion in equity index assets and have managed at least one $3 billion institutional account for five years.
The comptroller’s office will run the procurement for the teachers, employees, police and fire funds; contracts start at three years with options extending six more.