The board of trustees of the $830 million Employees Retirement System of the City of St. Louis launched an RFP for a high-yield fixed-income manager.
The board plans to invest about $25 million in a high-yield fixed-income mandate, according to a notice posted on the pension plan's website.
Tara Murphy, assistant vice president-client service at Marquette Associates, the pension plan's investment consultant, confirmed by email that this is a new mandate and that they are seeking firms with at least $500 million in a high yield strategy as of June 30.
"This is the client's first foray in this asset class," she added.
All RFP responses are due by 4:00 p.m. CT on Sept. 22 via email.
