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Ft. Lauderdale Fund Reschedules Finalist Interviews

The Florida City of Ft. Lauderdale’s nearly $352.9 million pension fund decided yesterday to reschedule finalist interviews for an open emerging markets equity account due to Hurricane Sandy.

Dave Desmond, administrator at the Fort Lauderdale General Employees’ Retirement System (GERS), said in a Thursday afternoon email that Brandes Investment Partners, Glovista Investments, OFI Institutional Asset Management and Wells Capital Management will appear Nov. 13 for final presentations.

The GERS Board decided on the revised date after prior meetings were set up for Oct. 30.  Finalists were previously picked Oct. 4 following recommendations offered by Richard Dahab, president and chief investment consultant for Dahab Associates.

On Tuesday, Desmond disclosed to IMMP that the pension body Board had to postpone the meeting “in light of the hurricane.”

“All travel from the northeast was shut down Sunday night,” Desmond said Oct. 30.

At the time, Desmond could not offer exact emerging markets equity firm names because Dahab was still in the process of notifying affected parties.

The search was issued as a result of a prior fund closure by Hansberger Global Investors, IMMP learned in July. As a result, it was disclosed that the $10 million RFP was released through its consultant following its August meeting.

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