State-Boston Retirement System is searching for one or more core fixed-income managers to run a total of $560 million, said John Kelly, investment analyst.
The $4 billion pension fund is conducting the search as a due diligence measure; current active managers Wells Capital Management and Richmond Capital Management, and passive manager State Street Global Advisors are invited to rebid.
As of June 30, Wells Capital managed $189 million; Richmond Capital, $173 million; and SSgA, $105 million.
Investment consultant NEPC is assisting.
Information on the search is available on NEPC’s website. Proposals are due at 3 p.m. EST on Nov. 24. Mr. Kelly said the pension fund hopes to make a decision in the first quarter of 2015.