Our manager searches are driven by the understanding that each of our clients has a unique set of needs, concerns, and priorities
If you are interested in participating in any of the investment manager searches currently posted to our website, click below to download the RFP.
The Board Members of the Worcester Retirement System (hereinafter “Board”) are seeking proposals from active managers of multi-asset credit funds. The Board intends to invest approximately $31.8 million for this mandate
Only proposals for experienced managers of multi-asset credit strategies will be considered. The reference benchmark for the strategy is the 50% ICE BofAML US High Yield / 50% CS Leveraged Loan index or a similar 50% High Yield / 50% Bank Loan blended benchmark (off-benchmark exposures are allowed). The firm must have a minimum of $10 billion under management in total, $1 billion invested in the multi-asset credit strategy, and a five-year performance history by the same decision makers in the multi-asset credit strategy. Liquidity of the strategy should be monthly or better. 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 at https://www.mass.gov/lists/perac-compliance-investments-forms).
The selected manager(s) must have familiarity with, and agree to comply 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 PERAC Placement Agent Policy. Please see http://www.mass.gov/perac/ for details. All materials submitted in connection with this search may be subject to disclosure consistent with Massachusetts Public Record laws.
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).
Proposals must be received: prior to 12:00pm EST, April 1, 2025
Please complete the RFP via the below DiligenceVault link:
https://app.diligencevault.com/#/login?redirectId=929976F7-E363-4078-9354-A97FBB597D70
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