Massachusetts Water Resource Authority Employees' Retirement System, Chelsea, will launch a search in the second half of November for an active domestic large-cap value equity manager to run about $48 million.
The $647 million pension fund will issue an RFP, due to the Massachusetts Public Employee Retirement Administration Commission's requirement to put services up for bid every seven years, said Carolyn Russo, executive director.
Current manager Coho Partners will be invited to rebid, said Russo.
Investment consultant NEPC, which will assist with the search, will present a draft RFP to the board for approval at its Nov. 16 meeting, she said. She said she expects the RFP to be issued shortly thereafter.
As of Sept. 30, the pension fund's actual allocation was 30.4%; the target is 31%.
The RFP will be posted on NEPC's website. Proposal due date and selection date have yet to be determined.