Seeking proposals from active managers of multi-asset credit funds. The Board intends to invest approximately $31.8 million for this mandate Only proposals for experienced managers of multi-asset credit strategies will be considered. The reference benchmark for the strategy is the 50% ICE BofAML US High Yield / 50% CS Leveraged Loan index or a similar 50% High Yield / 50% Bank Loan blended benchmark (off-benchmark exposures are allowed). The firm must have a minimum of $10 billion under management in total, $1 billion invested in the multi-asset credit strategy, and a five-year performance history by the same decision makers in the multi-asset credit strategy. Liquidity of the strategy should be monthly or better. The objective of this Request for Proposal shall be to identify that manager whose expertise will best meet the Board’s goals and needs. The funds shall be managed in compliance with Massachusetts General Laws, Chapter 32 and Chapter 176, the regulations of the Massachusetts Division of Public Employee Retirement Administration Commission, 840 CMR, and the Placement Agent Policy (available at https://www.mass.gov/lists/perac-compliance-investments-forms).
