Holyoke (Mass.) Contributory Retirement System has launched five new manager searches, said Anthony Dulude, executive director.
The $378 million pension fund is searching for an emerging markets equity manager to run $22 million and an international small-cap equity manager to run $4 million, and it is looking to commit $10 million to a private equity manager, $5 million to $10 million to private real estate managers and $5 million to private debt managers, Dulude said.
Dulude said the international small-cap equity search is being conducted to comply with Massachusetts Public Employee Retirement Administration Commission requirement that services be put up for bid every seven years. He did not have information on the specific manager overseeing the portfolio, but that the firm is eligible to rebid.
The other four searches, he said, are being conducted as opportunistic searches and funding will come from rebalancing.
All the RFPs are available on the website of investment consultant AndCo Consulting, which is assisting with the searches. All proposals are due by 3 p.m. EST on Feb. 2.
For the emerging markets equity search, the pension fund will only consider commingled funds, limited partnerships or mutual funds; for the international small-cap equity manager search, the pension fund is only considering mutual funds; for the private equity search, the pension fund is considering primary funds of funds, secondaries or co-investment funds and is not considering direct single-strategy funds; for the private real estate search, the pension fund is only considering closed-end value-added funds; and for the private debt search, the pension fund is considering a closed-end direct lending and/or opportunistic credit fund.
The pension fund will consider one or more private debt and private real estate managers, according to those RFPs.