Norwood (Mass.) Contributory Retirement System is searching for managers to run $20 million in domestic large-cap value equity and $7 million in high-yield fixed income, said RFPs posted on the website of Meketa Investment Group, the $143 million pension fund’s investment consultant.
The plan initiated the search because state legislation requires it to issue RFPs for new contracts every five years, said Debra Wilkes, the retirement system’s executive director.
The Boston Co. Asset Management is the current manager for the domestic large-cap value equity portfolio and Oaktree Capital Management, the high-yield portfolio. Both are invited to rebid.
Submitted strategies for either search must have at least a five-year track record.
The RFPs are available on Meketa’s website. Proposals for both searches are due at 4 p.m. EDT July 1. Ms. Wilkes said she expects managers to be hired no later than November.
