Posted on: 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.
In order to be considered, each strategy must have a live 5 year track record and assets of at least $400 million within the proposed strategy. Managers submitting proposals must work with NEPC to conduct due diligence, as needed. Managers are expected to provide performance data for funds through March 31, 2019. Current managers are encouraged to submit proposals.
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.
If you are interested in participating in the search, please update eVestment Alliance through Q1 2019 at www.evestmentalliance.com no later than 3:00 p.m. (EDT) on Tuesday, April 30th, 2019. In addition, please provide NEPC with the following information:
1. A completed copy of the Cover Letter provided by NEPC for each proposed product
2. A completed copy of the Appendix I provided by NEPC for each proposed product
3. An email copy of all eVestment Alliance information at the firm and product level for the proposed strategy(s)
4. Completed PERAC Forms (4 documents)
All questions should be directed via email to the following contact (no phone calls please). All proposals must be submitted via email to Kiley Fischer at KFischer@nepc.com by 3:00 pm (EDT) on Tuesday, April 30th, 2019.
No proposals will be accepted after this deadline. The subject line of your e-mail should also include reference to Boston Retirement System U.S. Large Cap Search.
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 or mail hard copies. Thank you in advance for your participation in this search.
255 State Street
Boston, MA 02109