Waltham (Mass.) Contributory Retirement System is searching for a manager of managers to oversee between $220 million and $250 million.
The $310 million pension fund's board issued an RFP to comply with requirements of the Massachusetts Public Employee Retirement Commission to put services up for bid every seven years, said Andrew Malis, board director.
SEI is the current manager of managers and is invited to rebid, Mr. Malis said. The firm was originally hired in 2015. The pension fund invests the remainder of its assets in Massachusetts Pension Reserves Investment Trust strategies.
The RFP is available on the website of Fiducient Advisors, the pension fund's investment consultant, which is assisting with the search. Proposals are due at 4 p.m. EDT on July 6. A timeline for a selection was not provided.