Norwood (Mass.) Contributory Retirement System is looking to allocate about $8.7 million to an emerging markets debt strategy.
Meketa Investment Group, investment consultant to the $156 million pension fund, is assisting with the search.
The search is being conducted to comply with state law requiring contracts be put out to bid every seven years, said Debra A. Wilkes, executive director of the pension plan. Aberdeen Standard Investments is the current manager and is invited to rebid.
Interested managers must have at least $1 billion in assets under management and a minimum track record of three years to be considered. Preference will be given to respondents that can provide a blended strategy of local and hard currency exposure.
The RFP is available on Meketa's website. Proposals are due noon EDT on March 13. Ms. Wilkes did not have a timetable for a selection.