Massachusetts Port Authority Employees' Retirement System, East Boston, is searching for one or more active international equity managers to run a total of about $160 million.
The $837 million pension fund issued an RFP to comply with the Massachusetts Public Employee Retirement Administration Commission’s requirement that services must be put up for bid every seven years, said Stephen DiGirolamo, managing director at investment consultant Wilshire Advisors, which is assisting with the search.
Current managers Baillie Gifford and Wellington Management are both invited to rebid, he said.
As of Dec. 31, 2023, the pension fund’s actual allocation to global equities was 51.6%, according to its most recent comprehensive annual financial report.
The RFP is available on the pension fund’s website. Proposals are due by 4 p.m. EDT on April 2. The board hopes to make a selection in July, DiGirolamo said.
