Worcester (Mass.) Retirement System is searching for a high-yield fixed-income manager to run about $12 million for the $847 million defined benefit plan, said an announcement on the Massachusetts Public Employee Retirement Administration Commission's website.
Respondents must have been in operation for at least five years, have at least $1 billion in equity capital invested and at least $300 million in high-yield fixed-income strategies to be considered.
Meketa Investment Group, the pension fund's investment consultant, is assisting with the search.
The RFP is scheduled to be available on Meketa's website. Proposals are due 3 p.m. EST on Dec. 12. A selection date was not disclosed.
Elizabeth A. Early, the pension fund's executive secretary, and David Hetzer and Steve MacLellan, vice presidents at Meketa, could not be immediately reached for additional information.