Boston Retirement System is searching for hedge fund-of-funds managers to run a total of about $350 million.
The $7 billion pension fund is seeking proposals from managers of multistrategy hedge funds of funds only, according to an RFP posted on the website of investment consultant NEPC, which is assisting with the search.
The RFP says the pension fund may select new managers and/or remain with existing managers Blackstone and GCM Grosvenor. The two managers’ portfolios had $166 million and $176 million, respectively, as of June 30, according to the pension fund’s most recent available investment report.
As of June 30, the actual allocation to hedge funds was 4.9%; the target is 5%.
John Kelly, the pension fund’s investment analyst, could not be immediately reached for further information.
The RFP is available on NEPC’s website. Proposals are due by 5 p.m. EDT on Oct. 28. A timeline for a selection was not provided.
