Cambridge (Mass.) Retirement System is searching for a custodian.
The $1.7 billion pension fund is seeking proposals from a qualified bank or financial institution that can provide institutional custodial and master trust services, according to an RFP on the website of investment consultant Segal Marco Advisors.
The RFP does not disclose the name of the current custodian or whether the firm is invited to rebid. According to the pension fund's most recent annual statement, People's United Bank was listed as the custodian as of Dec. 31.
The pension fund's target allocation is 27% domestic equities, 12% private equity/venture capital, 11% international equities, 10% each emerging markets equities and real estate, 8% core fixed income, 5% high-yield fixed income, 4% each infrastructure and timber, and 3% each bank loans, emerging markets debt and hedge funds.
The RFP is available on Segal Marco Advisors' website. Proposals are due at 3 p.m. EDT on Oct. 20. A timeline for a selection was not provided.
Ellen Philbin, executive director, could not be immediately reached for further information.
