Worcester (Mass.) Retirement System is searching for a manager to run $10 million in a direct middle-market buyout private equity fund.
The $717 million pension fund wants to make a direct commitment to a buyout fund and is not considering funds of funds or co-investments, said an RFP posted on the website of Meketa Investment Group, the pension fund's investment consultant.
The pension fund previously issued a similar RFP in April for a buyout fund, but also eliminated secondary funds from consideration at the time.
Proposals are due at 3 p.m. EDT on Aug. 26. A timeline for a decision was not made available.
The RFP is available on Meketa's website.
Elizabeth Early, the pension fund's executive secretary; Robert V. Stearns, city auditor and member of the board of trustees; Steve MacLellan, investment analyst at Meketa; and Todd Silverman, principal at Meketa, did not respond to requests for further information by press time.