Cambridge (Mass.) Retirement System is searching for a manager to run about $55 million in a conservative high-yield fixed-income portfolio.
Todd Kohlhepp, a spokesman for Segal Rogerscasey, investment consultant to the $1.1 billion pension fund, said the search is being conducted because the pension fund’s contract with its current manager, MacKay Shields, is set to expire later this year. MacKay Shields is invited to rebid.
Minority- and women-owned firms are also strongly encouraged to bid, the RFP said.
The RFP will be posted on Segal Rogerscasey’s website. Proposals are due at 3 p.m. EDT on June 15. A selection is expected to be made sometime in the fourth quarter.
Ellen K. Philbin, executive director of the pension fund, could not be reached by press time.