Massachusetts Pension Reserves Investment Management Board, Boston, is searching for an undetermined number of timber investment managers to run up to $600 million total. Funding will come from rebalancing, said Jim Hardy, executive director of the $30 billion system. The new allocation will provide diversification and better returns, he said.
RFPs are available by contacting George C. Wilson, senior investment officer of the PRIM Board, by mail or by fax. Proposals are due by July 5 and a final decision should be made by the end of September.
Separately, the board also is searching for a high-yield manager to run a portfolio of up to $600 million benchmarked to the Credit Suisse First Boston high-yield index. Funding will come from rebalancing as the board "clarifies and better defines what were doing in fixed income, said Mr. Hardy.
RFPs are available by contacting Stanley P. Mavromates, senior investment officer of the PRIM Board, through www.mapension.com. Proposals are due by 3 p.m. EDT June 25; a decision will be made by the end of September.