Investors - JANUARY 26, 2015

Massachusetts pension plan seeks energy manager

by Reg Clodfelter

The Norfolk County (Mass.) Retirement System has issued an RFP for an energy private equity manager to manage up to $15 million for the retirement system. NCRS’ investment consultant, Wainwright Investment Counsel, is assisting with the search and has the RFP on its website.

Among other factors, the retirement system requires that a potential manager have at least four previous funds raised in the energy space, has raised at least $1 billion in equity commitments in previous funds and is not offering a fund of funds.

Proposals must be submitted by Feb. 12.

As of Sept. 30, 2014, the $774 million retirement system had 8.01 percent of its assets invested in private equity. In addition, NCRS had 10.24 percent of its assets in real estate and 5.67 percent in real assets.

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