Boston Retirement System is searching for private markets funds to which it plans to commit an aggregate $45 million, the $4.8 billion pension fund announced in an RFP posted on the website of NEPC, its investment consultant.
The pension fund will focus on distressed debt, mezzanine debt, secondary, situation/turnaround and venture debt funds, the RFP said. The pension fund will only consider closed-end funds with a fundraising target of at least $250 million. According to the most recent investment report, as of Aug. 31 the pension fund's actual allocation to alternative assets was 21.2% compared to a 24% target. Breaking down those assets, the actual allocations to real estate, hedge funds and private equity were 9.2%, 7.1% and 4.9%, respectively. Their targets are 10%, 7% and 7% respectively.
The RFP is available on NEPC's website. Proposals are due at 2 p.m. EDT on Oct. 31. A timeline for a decision was not provided.
John Kelly, the pension fund's investment analyst, could not be immediately reached for comment.