Kansas Seeks Portable Alpha Managers

Apr 24 2008 | 2:00am ET

The Kansas Public Employees Retirement System is looking for portable alpha managers to provide beta overlay management services to the $14 billion pension fund.

KPERS currently employs one portable alpha manager, and is looking to add approximately four managers initially, increasing the stake to as many as a dozen over time. The system said it employs a “disciplined asset rebalancing policy and desires to add the use of derivatives in implementing the policy.” It also currently implements a cash securitization program and wants to continue with the program “as an integrated part of the beta overlay function.”

The fund currently has $420.8 million, or 3%, allocated to alternatives investments, but has a target allocation of 5% to the asset class.

Interested firms must be in business for at least five years with at least three years experience in providing beta overlay services to public pension funds of similar size to KPERS, and have at least three public pension fund clients.

The deadline for the RFP, which can be accessed at the pension fund’s Web site. is 5:00 p.m. central time on May 16.


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