Boston Water and Sewer Commission is looking to commit $2 million to a private debt fund for its $141 million pension plan.
The commission is seeking proposals from managers that offer closed-end direct lending funds, according to a search notice posted on the website of investment consultant NEPC, which is assisting with the search.
According to the notice, the commission will give preference to managers that have raised at least two previous funds and are raising at least $200 million for the current fund with a closing date of no earlier than Feb. 28, 2024.
The notice is posted on NEPC's website. Proposals are due by 4 p.m. EST on Dec. 21. A timeline for a selection was not provided.
Henry Vitale, executive director, could not be immediately reached for further information.