Lexington (Mass.) Contributory Retirement System is searching for a passive domestic large-cap equity manager to run $13 million and an opportunistic fixed-income/senior direct lending manager to run $5 million to $6 million, confirmed retirement board administrator Marguerite Oliva.
Both are new allocations for the $106 million pension fund. Funding sources have yet to be determined.
For the passive equity manager search, the pension fund is looking at managers with Russell 1000 index strategies and will consider only commingled funds.
Investment consultant Meketa Investment Group is assisting.
The RFP for the passive search is available from Meketa's website.
In the opportunistic fixed-income search, the pension fund is looking for a closed-end investment fund that “originates and invests in the senior secured debt (both first and second lien) of North America middle-market companies,” according to the RFP.
The opportunistic fixed-income RFP also is available from Meketa's website.
Proposals for both searches are due at 4 p.m. EST on Feb. 11. A timetable for a decision has yet to be determined.