The Boston Retirement System (the “System”) is soliciting proposals from investment management firms to manage an infrastructure mandate for the System’s $7.0 billion, defined benefit, pension fund. The objective of this search is to allocate approximately $30 million to a closed-end, private infrastructure strategy.

To qualify for this search, candidates must meet the following criteria:

  1. Candidates must have familiarity with and agree to comply with Massachusetts G.L. Chapter 32 and Chapter 176 of the Acts of 2011. Additionally, candidates must have familiarity with and agree to comply with the reporting and investment guidelines administered by PERAC.
  2. Candidates must be registered with the Securities and Exchange Commission or with the Secretary of State where the firm is domiciled.
  3. The proposed strategy must be a closed-end, infrastructure private equity fund.
  4. Preference will be given to candidates that have raised at least two prior funds for the proposed strategy, however, this is subject to the Board’s discretion.
  5. It is preferred that the proposed fund is raising at least $200 million, however, lower amounts may be considered at the Board’s discretion.

Boston Retirement System is bound by both Massachusetts Open Meeting Law and the Massachusetts Public Records Law.  All materials submitted in connection with this search may be subject to disclosure consistent with Massachusetts Public Records Law.

If you are interested in participating in the search, please complete each of the search documents through June 30, 2024 (or most recent).

 

Your submission must include the following items:

  • RFI (word document)
  • Fund & Deal Level Data Request (excel)
  • Fund Summary (excel)
  • PERAC Forms (4)

Proposals must be sent to [email protected] by 3:00 pm ET on November 6, 2024. Proposals received after the deadline will not be considered.

All questions should be directed to the NEPC email address listed above (no phone calls please). Any response that is not completed according to the enclosed instructions will be rejected. The Board reserves the right to cancel or reject in whole or part any or all proposals in the best interest of the System. Thank you in advance for your participation in this search.

ATTACHMENTS:

PERAC Forms: