Somerville (Mass.) Retirement System is searching for a U.S. multicap growth equity manager to run about $300 million, or about 70% of its $426 million investment portfolio.
The search is being conducted to comply with state law requiring contracts be put up for rebid every seven years, said Michael Pasquariello, executive director of the pension fund. Congress Asset Management is the retirement system's current multicap manager and is invited to rebid.
The RFP is available on the pension fund's website. Proposals are due by noon EDT Sept. 3. The board expects to award a contract by Oct. 31.
