Massachusetts Water Resource Authority Employees' Retirement System, Chelsea, is searching for a senior private direct lending manager to run up to $5 million and a venture capital manager to run up to $3 million for the $420 million defined benefit pension fund, according to two RFPs posted on the website of investment consultant NEPC, which is assisting in both searches.
Only managers raising at least $200 million in a senior private direct lending fund will be considered for the direct lending search. The focus of the search will be on U.S. and European strategies only. Mezzanine debt and fund of funds will not be considered.
For the venture capital search, only managers raising at least $150 million in a venture capital fund will be considered. Secondary funds and fund of funds will not be considered.
The RFPs are available on NEPC's website. Proposals for both searches are due by 4 p.m. EDT June 20. Selection dates could not be learned by press time.
Julie McManus, retirement coordinator at the pension fund, referred all questions to the consultant. Representatives from NEPC could not be reached.