Boston Retirement System will conduct a search in 2024 for an active international small-cap equity manager to run about $133 million.
The $6.5 billion pension fund will issue an RFP sometime during the year due to Massachusetts Public Employee Retirement Administration Commission requirements that mandate services must be put up for bid every seven years, said John Kelly, investment analyst, in minutes for its Oct. 18 board meeting.
As of Aug. 31, Segal Bryant & Hamill ran $133 million in international small-cap equities for the pension fund, according to its most recent investment report. Kelly could not be immediately reached for further information about the search timeline or whether Segall Bryant would be eligible to rebid. In the past, the pension fund has typically invited incumbents to rebid when PERAC requirements necessitate searches.
As of Aug. 31, the pension fund's actual allocation to international equities was 16.6%; the target is 16%.
The retirement system's RFPs are posted on the website of investment consultant NEPC, which assists with searches.
