IPERS Seeks Two Smidcap Equity Managers

Des Moines-based Iowa Public Employees’ Retirement System (IPERS) is seeking two active domestic smidcap equity managers, Pension & Investments reports. The $23 billion system will appoint one manager in value and one in growth to manage $150 million each.

The hires will be the inaugural allocation to active smidcap, for which funding will be provided from cash or from reducing the Mellon Capital-managed Wilshire 4500 Index fund or both. The Wilshire 4500 fund is currently valued at $1.2 billion.

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