Lexington (Mass.) Retirement System is looking to commit about $7.5 million to a senior direct lending strategy.
Meketa Investment Group, investment consultant to the $170 million pension plan, is assisting with the search.
Only proposals for senior direct lending funds will be considered. Fund of funds, co-investment funds, secondary funds and sector-specific funds will not be considered.
The plan had a 7% allocation to high-yield fixed income as of Dec. 31, 2016, according to its most recently available annual report.
The RFP is available on Meketa's website. Proposals are due by 4 p.m. EDT May 18. A selection date was not disclosed.
Marguerite Oliva, administrator at the pension plan, and Lisa Rubin, marketing manager at Meketa Investment Group, did not return phone calls by press time.