---
title: PA Municipal Retirement Preparing Small Cap Value Search; Hires Timberland Manager
description: PA Municipal Retirement Preparing Small Cap Value Search; Hires Timberland Manager.
image: https://dakotafunds.com/hubfs/Imported_Blog_Media/philadelphia-Dec-09-2021-06-54-32-06-PM-3.jpg
---

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# PA Municipal Retirement Preparing Small Cap Value Search; Hires Timberland Manager

**Written by: ** Koncheng Moua, Director of Data Management and Strategy 

![](https://dakotafunds.com/hubfs/Imported_Blog_Media/philadelphia-Dec-09-2021-06-54-32-06-PM-3.jpg)

The Pennsylvania Municipal Retirement System recently approved issuing an RFP for a small cap value manager. 

This is due to 80% of the Smith Graham portfolio being sold and PMRS wanting to explore new managers should they decide to move on from the remaining portfolio manager, according to meeting minutes from the June board meeting.

In addition, Forest Investment Associates was hired for the Timberland Manager search that was issued in January 2023. Manulife Investment Management and Resource management Services were the other two finalists.

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a *[free trial](https://www.dakota.com/free-trial)* of Dakota Marketplace!*

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