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Boston Retirement System - Private Markets Manager Search

Posted on: 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.  

Candidates must be raising a closed-end private markets fund with a final closing date no earlier than January 31, 2019. Existing managers are encouraged to submit proposals.

Preference will be given to candidates that have raised at least two prior funds and will be raising at least $250 million in the current fund. Managers submitting proposals must work with NEPC to conduct due diligence. Managers are expected to provide performance data for prior funds through June 30, 2018.

The System anticipates committing approximately $117 million across all strategies. Please note that the commitment amounts may be subject to change. Managers selected must have familiarity with and agree to comply with Massachusetts G.L. Chapter 32, Chapter 176 of the Acts of 2011 and all applicable investment guidelines administered by PERAC. The selected firm must be willing to complete supplemental disclosures and certification documents required by PERAC. In addition, managers must be registered with either the Securities and Exchange Commission or with the Secretary of State where the firm is domiciled. 

You may download the RFI and PERAC documents on NEPC’s website (www.nepc.com).  Please submit all four of the PERAC forms with the RFI. Please only provide one data request document specific to your strategy. The Board reserves the right to cancel or reject in whole or part any or all proposals in the best interest of the retirement system. All questions should be directed via email to the following contacts, (no phone calls please).  Electronic copies of the RFI and supporting documents should be sent to Kiley Fischer and Colton Lavin no later than 2:00 p.m. EDT on October 23rd, 2018.

Please follow all directions carefully!  Any response that is not completed according to the enclosed instructions will be rejected. Please do not fax your response. Thank you in advance for your participation in this search.

Kiley Fischer 

NEPC, LLC     

255 State Street

Boston, MA 02109

KFischer@nepc.com

 

Colton Lavin  

NEPC, LLC     

255 State Street

Boston, MA 02109

CLavin@nepc.com

 

 

Search Notice

 

RFI:

Closed-End Fund RFI

Closed-End Energy Fund RFI

 

Data Request Forms:

Direct Lending Fund

Distressed & Opportunistic Credit Fund

Special Situations & Turnaround Fund

Energy Deal-Level

Energy Fund-Level

 

PERAC Forms:

Placement Agent Form

Vendor Certification Form

Vendor Contact Information

Vendor Disclosures

Topics: Research

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