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Town of Belmont: US Large Cap Value Search

Posted on: 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.  

If you are interested in participating in the search, please complete the attached form in Appendix I and update eVestment through 2Q 2018 at www.evestment.com.  In addition, please provide NEPC with the following information:

  1. A cover letter indicating your firm’s interest in the search.  Please include the vehicle you are proposing for this search and the fee schedule you are proposing for this mandate.
  2. An email copy of all eVestment information at the firm and product level for the proposed strategy.  Please clearly indicate the product type category in which you classify your product.
  3. Completion of the following PERAC forms: vendor certification, placement agent statement, disclosure of conflict of interest, disclosure of compensation received, and disclosure of compensation paid.

By submitting a formal response to this RFP, the Manager acknowledges that the Investor, Belmont Contributory Retirement System, is bound by both Massachusetts Open Meeting Law as governed by Massachusetts General Laws Chapter 30A § 18-25 and 940 CMR 29.00, and the Massachusetts Public Records Law as governed by Massachusetts General Laws Chapter 66 and 950 CMR 32.00.  Any document submitted by the Manager to the Investor or discussed in open session at a public meeting will be presumed to be a public record unless it otherwise qualifies under an exemption as specified in the statute.

All proposals must be submitted via email to Alex Goroshko at agoroshko@nepc.com by 4:00 pm (EDT) on Wednesday, October 17, 2018.  No proposals will be accepted after this deadline.  (All data should be updated through June 30, 2018.)   The subject line of your e-mail should also include reference to Town of Belmont Retirement System.

Cover Letter

US Large Cap Value RFP

PERAC Forms

Vendor Certification Form

Vendor Disclosures

Placement Agent Form

Topics: Research, Equities

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