Braintree (Mass.) Contributory Retirement System is searching for an international equity manager to run $20 million, confirmed Jeanne Martineau, director of the $155 million pension plan.
The search is to potentially replace the Boston Co. Asset Management, which runs a $20 million international value equity strategy. Boston Co.’s contract does not expire until 2016, but an RFP was issued because of underperformance, Ms. Martineau said. Boston Co. spokesman Mike Dunn declined to comment.
Braintree also has international equity exposure through a $10 million emerging markets equity strategy managed by Acadian Asset Management.
The selected firm must have a strategy with a three-year track record, at least $300 million in assets and a pooled investment vehicle, according to the RFP. Separate accounts will not be considered.
The RFP is available on NEPC’s website. Proposals are due at 4 p.m. EDT July 9. A hiring decision could be made by the Sept. 25 board meeting.
