Quincy (Mass.) Contributory Retirement System issued an RFP for a manager of a direct middle-market buyout private equity fund to run $5 million, said an announcement on the website of Meketa Investment Group, investment consultant to the $290 million pension fund.
The pension plan intends to commit to a closed-end fund. Only proposals from experienced managers of buyout private equity funds will be considered. Funds of funds, sector-focused funds, co-investment funds and secondary funds will not be considered.
The pension fund has issued RFPs looking to allocate this amount to this mandate before, most recently in February. It could not be learned whether this is a reissue or an additional allocation for the pension fund.
The RFP is available on Meketa's website. Proposals are due by noon EDT on April 18. A selection date was not disclosed.
The pension fund's target allocation to private equity is 6.5%.
Edward Masterson, the pension fund's executive director, and Todd K. Silverman, principal at Meketa, were not available to provide further information.