Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, is looking to allocate up to $30 million to an international growth equities manager.
NEPC, investment consultant to the $500 million defined benefit plan, is assisting with the search.
The search is being conducted to comply with Massachusetts state law requiring contracts be put out to bid every seven years, said Carolyn Russo, executive director of the retirement system. LMCG Investments is the incumbent manager and is welcome to rebid.
Candidates must have a track record of at least five years, exposure to emerging markets and a minimum of $500 million in AUM to be considered. Developed market only, international value and global equity funds will not be considered.
The RFP is available on NEPC's website. Proposals are due by 4 p.m. on June 19. A selection is tentatively anticipated to be made in August.