Medford (Mass.) Contributory Retirement System is looking to commit $2 million to a closed-end direct lending fund.
The $240 million pension fund is seeking proposals from managers raising at least $200 million for a closed-end direct lending fund, according to an RFP posted on the website of investment consultant NEPC, which is assisting with the search.
It is the second private debt search the retirement system has conducted in two years. In 2022, the pension fund issued an RFP for its first private debt fund and ultimately approved committing $8 million to GoldenTree Distressed Fund IV, a distressed credit fund managed by GoldenTree Asset Management.
The RFP is available on NEPC's website. Proposals are due at 2 p.m. EST on Nov. 30. A timeline for a selection was not provided.
Mark Minervini, the pension fund's executive director, could not be immediately reached for further information.
