Medford (Mass.) Contributory Retirement System is searching for an international developed markets equities manager to run about $21 million for the $205 million defined benefit fund.
The search is being conducted to comply with state law requiring contracts be put out to bid every few years, Scott Driscoll, consultant at NEPC, investment consultant to the pension plan, confirmed in an email.
Lazard Asset Management is the current manager and is invited to rebid.
Proposed strategies must have at least $500 million in assets under management and a minimum track record of five years. Only pooled investment vehicles (mutual or commingled funds) will be considered. Global equity ex-U.S. funds will not be considered.
The RFP is on NEPC's website. Proposals are due 2 p.m. EST on Dec. 18. Mr. Driscoll expects a decision in a couple of months.