Boston Retirement System is looking to allocate a total of $117 million to three closed-end private markets funds: an energy-focused fund, a special situations/turnaround fund and a private debt fund.
NEPC, investment consultant to the $5 billion defined benefit plan, is assisting with the search.
Proposed funds must have a final closing date of no earlier than Jan. 31. Money managers that have existing relationships with the pension fund are encouraged to bid. Preference will be given to firms that have raised at least two prior funds and will be raising at least $250 million in their current fund.
The RFP is available on NEPC's website. Proposals are due by 2 p.m. EDT Oct. 23. Selection dates were not disclosed.
The pension fund had a 5.5% allocation to private equity and debt as of June 30, according to documents on its website. Its policy target is 11%.
John Kelly, the pension fund's investment analyst, and Kiley Fischer, an analyst at NEPC, could not be immediately reached for comment.