Rhode Island Employees' Retirement System, Providence, is searching for at least one manager to run up to $160 million in an unlevered, long-only portfolio of U.S. energy master limited partnerships and related securities for the $8.1 billion pension fund, said Ashley Gingerella O'Shea, a spokeswoman for the state treasurer's office.
The securities must be traded on the New York Stock Exchange and Nasdaq. Eligible investments for the allocation include energy infrastructure companies structured as MLPs; energy infrastructure-related C corporations and MLP-affiliated general partnerships; and MLPs engaged primarily in natural gas gathering and processing.
The pension fund could hire one or two managers. It is the fund's first allocation to MLPs. The funding source has not been determined.
A copy of the RFP is on state Treasurer Gina Raimondo's website. Proposals are due at 3 p.m. EDT Aug. 11. A hiring decision is expected on Oct. 22.