Norwood (Mass.) Contributory Retirement System named Brigade Capital Management and Mesirow Financial as finalists in its search for an active high-yield fixed-income manager to run about $7 million, said Debra A. Wilkes, executive director.
The $205 million pension fund issued an RFP in June to comply with Massachusetts Public Employee Retirement Administration Commission regulations that require services be put up every seven years, Ms. Wilkes said.
Current manager Columbia Threadneedle Investments was invited to rebid, but the firm missed the deadline, Ms. Wilkes said. The finalists will make presentations at the pension fund's Nov. 16 board meeting and a selection will be made shortly thereafter.
Investment consultant Meketa Investment Group is assisting.
