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Belmont Retirement System- Private Markets Manager Search

June 13, 2019

The Belmont Retirement System (the “System”) is soliciting proposals from investment management firms to manage a private equity secondaries mandate for the System's $110.0 million, defined benefit, pension fund. This search will target funds focused on the following strategies: Secondaries. In order to be considered, the candidates must be raising a closed-end private equity secondaries fund with a final closing date no earlier than December 31, 2019. Existing managers are encouraged to submit proposals.

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Los Angeles City Employees’ Retirement System Emerging Market Debt Blended Currency RFP

June 10, 2019

To All Interested Parties:

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $17.1 billion in assets. LACERS seeks one or more qualified investment management firms to actively manage up to approximately $800 million in an emerging market debt local and hard currency blend strategy through separately managed accounts.

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Los Angeles City Employees’ Retirement System Emerging Market Small Cap Equity RFP

June 10, 2019

To All Interested Parties:

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $17.1 billion in assets. LACERS seeks one or more qualified investment management firms to actively manage up to approximately $230 million in an emerging market small cap equities investment strategy through separately managed accounts.

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The City of Medford Retirement Board- Emerging Market Debt Blended Search

May 2, 2019

The City of Medford Retirement Board is soliciting proposals from investment management firms to manage an Emerging Markets Debt Blended Currency mandate for the System's $190 million, defined benefit pension fund. The System will place up to $8 million with the new emerging markets debt – blended currency manager.  Investment managers selected must have familiarity with and agree to comply with Massachusetts G.L. Chapter 32 and Chapter 176 of the Acts of 2011 and all applicable investment guidelines administered by PERAC, including the restriction on investing in tobacco-related companies.  In order to be considered, each firm’s emerging markets debt – blended currency product must meet the following minimum criteria: 1) The strategy must have assets under management of at least $500 million, 2) Minimum track record of at least five years, 3) The product vehicle must be a pooled investment vehicle (mutual or commingled fund).  

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Chicago PABF- Core Plus Fixed Income Search

April 10, 2019

The Retirement Board (“the Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (“the Fund” or “PABF”) is requesting proposals from qualified firms interested in managing a core plus fixed income portfolio, benchmarked against the Bloomberg Barclays US Aggregate Index. This search is limited to traditional long only investment managers, hedge fund managers will not be considered for this mandate. The allocation is expected to be $80-150 million. If you are interested in being considered for this RFP, you must submit an electronic copy of the complete proposal by 4:00 CST on May 6, 2019. Responses submitted after this time and date will not be considered. Questions concerning the RFP must be submitted in writing via e-mail to the investment consultant’s search contact by 3pm CST on April 17, 2019. Responses to properly submitted questions will be consolidated in a single Q&A document and posted on the consultant’s website on or around April 22, 2019. No phone calls please.

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Chicago PABF- Core Fixed Income Search

April 10, 2019

The Retirement Board (“the Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (“the Fund” or “PABF”) is requesting proposals from qualified firms interested in managing a core fixed income portfolio, benchmarked against the Bloomberg Barclays US Aggregate Index. This search is limited to traditional long only investment managers, hedge fund managers will not be considered for this mandate. The allocation is expected to be $80-150 million. If you are interested in being considered for this RFP, you must submit an electronic copy of the complete proposal by 4:00 CST on May 6, 2019. Responses submitted after this time and date will not be considered. Questions concerning the RFP must be submitted in writing via e-mail to the investment consultant’s search contact by 3pm CST on April 17, 2019. Responses to properly submitted questions will be consolidated in a single Q&A document and posted on the consultant’s website on or around April 22, 2019. No phone calls please.

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Boston Retirement System - U.S. Large Cap Equity Manager Search

April 9, 2019

The Boston Retirement System (the “System”) is soliciting proposals from investment management firms to manage a U.S. Large Cap Equity mandate for the System's $4.9 billion, defined benefit, pension fund. The System currently has approximately $830 million invested within the U.S. Large Cap space.

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Louisiana Municipal Police Employees' Retirement System- Intermediate-Term Investment Grade Fixed Income Search

April 5, 2019

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MWRA - Multi Sector Bonds Search

March 7, 2019

The Massachusetts Water Resource Authority Employees’ Retirement System (the “System”) is accepting proposals from investment firms to manage a Multi Sector and Specialty Lending Bond mandate for the System's $525 million, defined benefit pension fund. In order to be considered, the candidates must be offering a long-only, Multi Sector fixed income or Specialty lending strategy.  Absolute return, core bond, core-plus, hedge fund and index fund strategies will not be considered.  The System may commit up to $40 million with the new manager(s).  Importantly, the Board reserves the right to reject any and all proposals at its discretion.  In order to be considered, the candidates must meet the following criteria:

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Los Angeles City Employees’ Retirement System: HIGH YIELD FIXED INCOME AND HYBRID HIGH YIELD FIXED INCOME/ U.S. FLOATING RATE BANK LOAN MANDATE SEARCH

February 25, 2019

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $17.1 billion in assets. This investment manager search seeks one or more qualified investment management firms to actively manage up to approximately $216 million each in a high yield fixed income strategy and a hybrid high yield fixed income/U.S. floating rate bank loans strategy through separately managed accounts.

Emerging Managers (as defined by LACERS’ Emerging Investment Manager Policy) are encouraged to participate in this search, subject to LACERS investment policies (including LACERS’ Emerging Investment Manager Policy) and any provisions specifically stated in this search document that pertain only to Emerging Mangers. LACERS will consider Emerging Manager mandates based on the criteria outlined in the search document.

The search document, which details the minimum qualifications each respondent must meet in order to be considered, as well as the required City forms, is attached here and is available on LACERS website: lacers.org

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Los Angeles City Employees’ Retirement System: U.S. Small Cap Equities Mandate Search

February 25, 2019

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $17.1 billion in assets. LACERS seeks qualified investment management firms to actively manage up to approximately $648 million in one or more of the following long-only, publicly-traded U.S. Small Cap Equities investment strategies: Small Cap Core Equities, Small Cap Growth Equities, and Small Cap Value Equities.. Proposed strategies must be benchmarked to the Russell 2000 Index, Russell 2000 Growth Index, or Russell 2000 Value Index. It is LACERS intent to allocate assets across the core, growth, and value styles and to hire more than one firm. LACERS will consider separately managed accounts and fund-of-funds.

Emerging Managers (as defined by LACERS’ Emerging Investment Manager Policy) are encouraged to participate in this search, subject to LACERS investment policies (including LACERS’ Emerging Investment Manager Policy) and any provisions specifically stated in this search document that pertain only to Emerging Managers. LACERS will consider Emerging Manager mandates based on the criteria outlined in the search document.

LACERS will retain sole discretion to determine the appropriate number of managers and mandate sizes based on the aggregate pool of non-emerging and emerging manager finalists

The search document, which details the minimum qualifications each respondent must meet in order to be considered, as well as the required City forms, is attached here and is available on LACERS website: lacers.org

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City of Medford: TIPS Manager Search

January 31, 2019

The City of Medford Retirement Board is soliciting proposals from investment management firms to manage a passive US TIPS Index mandate for the System's $183 million, defined benefit pension fund. The System will place up to $7 million with the passive US TIPS Index manager.  Investment managers selected must have familiarity with and agree to comply with Massachusetts G.L. Chapter 32 and Chapter 176 of the Acts of 2011 and all applicable investment guidelines administered by PERAC, including the restriction on investing in tobacco-related companies.  In order to be considered, each firm’s passive US TIPS Index product must meet the following minimum criteria: 1) Minimum passive US TIPS assets under management of at least $500 million, 2) Minimum track record of at least five years, 3) The product vehicle must be a pooled investment vehicle (mutual or commingled fund).  

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LOS ANGELES CITY EMPLOYEES’ RETIREMENT SYSTEM – PRIVATE CREDIT MANDATE SEARCH

December 10, 2018

The Los Angeles City Employees’ Retirement System (LACERS) administers an investment portfolio with approximately $16.8 billion in assets. This investment manager search seeks one or more qualified investment management firms to actively manage up to approximately $670 million in a private credit investment strategy through separately managed accounts and commingled funds. LACERS will consider senior secured debt mandates with a geographic emphasis in the United States, Europe or Asia. The proposed strategy is expected to outperform the Credit Suisse Leveraged Loan Index by 200 basis points over a full market cycle.

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Boston Retirement System - Private Markets Manager Search

October 3, 2018

The Boston Retirement System (the “System”) is soliciting proposals from investment management firms to manage a Private Markets mandate for the System's $5.0 billion, defined benefit, pension fund. This search will look to fill up to 3 distinct mandates: (1) Energy focused fund, (2) Special Situations/Turnaround and (3) a Private Debt fund.  

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Town of Belmont: US Large Cap Value Search

October 2, 2018

The Town of Belmont, Massachusetts Contributory Retirement System is soliciting proposals from investment management firms to manage a U.S. large cap value equity mandate for the System's $106 million, defined benefit pension fund. The System will initially place up to $10 million with the manager(s).  Investment managers selected must have familiarity with and agree to comply with Massachusetts G.L. Chapter 32 and Chapter 176 of the Acts of 2011 and all applicable investment guidelines administered by PERAC, including the restriction on investing in tobacco-related companies.  In order to be considered, each firm’s U.S. large cap value equity product must meet the following minimum criteria: 1) Minimum strategy assets under management of at least $750 million, 2) Minimum track record of at least seven years.  

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City of Medford: S&P 400 Manager Search

September 11, 2018

The City of Medford Retirement Board is soliciting proposals from investment management firms to manage a passive S&P 400 Index mandate for the System's $198 million, defined benefit pension fund. The System will place up to $7 million with the passive S&P 400 Index manager.  Investment managers selected must have familiarity with and agree to comply with Massachusetts G.L. Chapter 32 and Chapter 176 of the Acts of 2011 and all applicable investment guidelines administered by PERAC, including the restriction on investing in tobacco-related companies.  In order to be considered, each firm’s passive S&P 400 Index product must meet the following minimum criteria: 1) Minimum passive S&P 400 assets under management of at least $500 million, 2) Minimum track record of at least ten years, 3) The product vehicle must be a pooled investment vehicle (mutual or commingled fund).  

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MWRA Retirement System - Open Ended Core Real Estate Manager Search

September 6, 2018

The Massachusetts Water Resource Authority Retirement System (the “System”) is accepting proposals from investment firms to manage an Open Ended Core Real Estate mandate for the System's $544 million, defined benefit, pension fund. The System anticipates making an allocation of approximately $15 million; REITS, and closed-end private real estate strategies will not be considered and existing managers are encouraged to respond. The System may invest with potentially more than one open ended core real estate manager(s). In order to be considered, the candidates must meet the following criteria:

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Core Plus Closed End or Open End Real Estate Fund Search

September 4, 2018

The Retirement Board (“the Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (“the Fund” or “PABF”) is requesting proposals from qualified firms interested in providing a Core Plus Closed or Open End Real Estate Fund. The anticipated allocation is expected to be $15-25 million.  If you are interested in being considered for this RFP, you must submit an electronic copy of the complete proposal by 4:00 CST on September 28, 2018. Responses submitted after this time and date will not be considered. The quiet period begins when the RFP is issued and ends when the manager is selected by the Board or the process is declared to be complete.  Managers will not contact Board members during the quiet period.  A manager will be disqualified from the selection process for violating the quiet period. The quiet period for this RFP begins September 3, 2018. Questions concerning the RFP must be submitted in writing via e-mail to the investment consultant’s search contact by 3pm CST on September 10, 2018. Properly submitted questions will be consolidated in a single Q&A document and posted on the consultant’s website on or around one weeks prior to the RFP deadline.

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VALUE ADDED CLOSED END OR OPEN END VALUE ADD REAL ESTATE SEARCH

September 4, 2018

The Retirement Board (“the Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (“the Fund” or “PABF”) is requesting proposals from qualified firms interested in providing a Value Added Closed or Open End Real Estate Fund. The anticipated allocation is expected to be $15-25 million.  If you are interested in being considered for this RFP, you must submit an electronic copy of the complete proposal by 4:00 CST on September 28, 2018. Responses submitted after this time and date will not be considered. The quiet period begins when the RFP is issued and ends when the manager is selected by the Board or the process is declared to be complete.  Managers will not contact Board members during the quiet period.  A manager will be disqualified from the selection process for violating the quiet period. The quiet period for this RFP begins September 3, 2018. Questions concerning the RFP must be submitted in writing via e-mail to the investment consultant’s search contact by 3pm CST on September 10, 2018. Properly submitted questions will be consolidated in a single Q&A document and posted on the consultant’s website on or around one weeks prior to the RFP deadline. NO PHONE CALLS PLEASE.

Cover Letter

Open-End Direct Real Estate Fund RFI

Closed-End Direct Real Estate Fund RFI

Exhibit A- Employee Diversity Chart

Exhibit D- Closed-End Direct Real Estate Fund Cash Flows- Appendix 1

Exhibit D- Closed-End Direct Real Estate Fund Performance- Appendix 2

Exhibit D- Closed-End Direct Real Estate Fund Deal Track Record- Appendix 3

Exhibit D- Open-End Direct Real Estate Fund Data RFI

Exhibit G- Legal Disclosure

 

Q3 Asset Allocation

Current Real Estate Funds

 

Q&A

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BWSC OPEB: Global Asset Allocation Manager Search

June 18, 2018

The Boston Water and Sewer Commission (“BWSC”) is soliciting Request for Qualifications (RFQ) from investment management firms to manage a Global Asset Allocation mandate for BWSC's $19 million, OPEB Trust. BWSC may place up to $5 million with the new global asset allocation manager(s). In order to be considered, each firm’s global asset allocation product must meet the following minimum criteria: 1) Minimum strategy assets under management of at least $1 billion, 2) Minimum track record of at least ten years.  

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