The Pennsylvania State Employees’ Retirement System (SERS) is conducting this search to identify and select investment management firms to create and manage one or more Active U.S. Core Fixed Income portfolios for SERS.

The State Employees’ Retirement Board (Board) has exclusive control of all assets of SERS. The Board has full power to hold, purchase, sell, assign, transfer, or dispose of SERS’ assets, including securities and other investments in which its funds have been invested, as well as the proceeds of such investments. Callan will assist the Board in fulfilling its fiduciary duties with respect to the investment of the assets.

Search process: SERS’ Investment Office (Staff) is conducting this search. Specifically, Staff and Callan will use Callan’s database to identify the universe of Active U.S. Core Fixed Income (benchmarked to the Bloomberg U.S. Aggregate Bond Index) investment management firms that SERS could engage to provide investment management services. Callan will review information posted in the database to identify firms that meet the “Minimum Requirements” described in Section B of the Notice of Search.

How to participate in this search: To be considered, investment management firms must comply with the requirements listed below:

  • All firms shall carefully review this Notice of Search and the Minimum Requirements described in Section B of the Notice of Search. Interested firms that meet the Minimum Requirements must enter their information in Callan’s database (below) to be considered. Callan will review the database and provide Staff with a written report identifying the investment managers that meet the Minimum Requirements.
  • Investment firms must submit their information directly to Callan by entering information into the database here. Click on “Manager Questionnaire” to access the database.
  • All firms must ensure that they completely identify their firm and product information in the database. Additionally, firms must ensure that the information is current and accurate as of June 30, 2024 (information such as organization, product, personnel, returns, portfolio characteristics, and AUM data).

Deadline:

Current and accurate data must be in Callan’s database no later than August 5, 2024, at which time Callan shall commence its review of the database.

Click below for the Notice of Search:

Notice of Search (PDF)