Institution: New Bedford Retirement System
Headquarters: New Bedford, United States
Allocation to alternatives: 20.22%
New Bedford Retirement System has issued an RFP for private equity fund of funds managers focusing primarily on small/mid-market buyout vehicles, according to the pension’s investment consultant’s website. The mandate on offer will be for approximately $10 million. The submission deadline for prospective manager is 10 February 2020.
The $326.39 million Massachusetts-based public pension has a 10.0 percent target allocation to private equity that currently stands at 8.46 percent.
As illustrated below, New Bedford’s last private equity commitment was to 2018-vintage Hancock Natural Resource Group’s agribusiness-focused Overseas Farmland Investment Fund.
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