Searches and Hires

Somerville Retirement seeks international, emerging markets equities managers

Somerville (Mass.) Retirement Board is searching for an international equity manager to run $11.3 million and an emerging markets equity manager to run about $2.2 million.

The board will consider proposals for commingled funds and separate accounts for both allocations.

The search is being conducted to comply with Massachusetts state law requiring services be put up for bid every seven years, confirmed Michael Pasquariello, executive director of the $270 million defined benefit plan. Lazard Asset Management is the current manager for both allocations and is invited to rebid.

The RFPs are available by requesting them from Mr. Pasquariello via email.

Proposals are due by 4 p.m. EST Feb. 15. The board intends to award contracts on or before May 1.