Massachusetts Water Resource Authority Retirement System, Chelsea, Mass., is searching for an opportunistic credit manager to run about $15 million.
The $657 million pension fund issued an RFP for opportunistic credit managers to complement its existing fixed-income strategies, said Carolyn Russo, executive director, in an email.
The RFP said the pension fund is seeking commingled funds or mutual funds and will not consider bank loans, core-plus fixed income, high yield or multisector fixed-income strategies.
As of Jan. 31, the pension fund's actual allocation to fixed income was 19.6%; the target is 20%.
The search notice is on investment consultant NEPC's website. Responses are due at 5 p.m. EDT on March 24. Ms. Russo said the plan is to hold finalist presentations at the board's April 27 meetings and make a selection at that time.
NEPC is assisting with the search.
