The Boston Retirement System is soliciting management firms to help its private markets investments, the fund said recently.
The Massachusetts-based pension fund expects to commit $40 million across the secondaries, mezzanine, distressed debt and special situation/turnaround strategies, according to a request for proposals released on 10 January.
The RFP states that the fund will prioritise candidates that have raised at least two prior funds, will be seeking at least $250 million in a current fund. Eligible candidates must also be raising a closed-ended fund with a final closing date no earlier than 1 March 2017.
A spokesman for the fund did not respond to request for comment.
Alternative assets account for 23.4 percent, or about $963.2 million, of the fund’s $4 billion portfolio, which garnered a gross return rate of 7.6 percent in November, an investment report released last month shows. Previous private credit commitments include to Audax Mezzanine Fund III, the Transwestern Mezzanine Realty Partners III, and Prudential Capital Partners II, according to PDI data.
Boston Retirement System is one of 106 contributory retirement systems that operate within Massachusetts.