Quincy Retirement System Bank Loan Fixed Income RFP Search

Public Notice
The Board Members of the Quincy Retirement System (hereinafter “Board”) are seeking proposals from active management of Bank Loan Fixed Income strategies benchmarked to either the CS Leveraged Loan or Morningstar LSTA Leveraged Loan Index. The Board intends to invest approximately $10 million for this mandate.

Only proposals for experienced managers of Bank Loan Fixed Income strategies will be considered. The firm must have a minimum of $10 billion under management in total, $1 billion invested in the Bank Loan strategy, and a five-year performance history by the same decision makers in the Bank Loan Fixed Income strategy. The objective of this Request for Proposal shall be to identify that manager whose expertise will best meet the Board’s goals and needs.

The funds shall be managed in compliance with Massachusetts General Laws, Chapter 32 and Chapter 176, the regulations of the Massachusetts Division of Public Employee Retirement Administration Commission, 840 CMR, and the Placement Agent Policy (available from https://www.mass.gov/info-details/perac-compliance-investment-guidelines-memos).

Please be advised that if you cannot commit to the mandatory contract terms enumerated in Exhibit A, then you should not respond to this RFP. These terms are not negotiable – they are statutory requirements. Please also be advised that in agreeing to be a fiduciary with respect to the funds you invest on the Board’s behalf, you must agree to the prudent person standard set forth in M.G.L. c. 32, §,23(3), not the Delaware Act standard.
All bidders are hereby advised that any proposal selected shall be subject to (1) approval of the Board, (2) a written contract and (3) approval of the engagement by the Massachusetts Public Employee Retirement Administration Commission (PERAC).

Due date deadline: February 28, 2025, at 12:00pm EST

Attachment 1