The Essex (Mass.) Regional Retirement Board is seeking managers for an $8 million private equity fund of funds allocation.
In a request for proposals, the pension fund indicated that it is seeking managers who are registered with the Securities and Exchange Commission or are exempt from such registration, have five years’ experience and have managed funds in excess of $50 million.
According to Timothy Basset, chairman of the board, the search for p.e. funds of funds is part of the $300 million pension’s strategy to diversify its private equity portfolio. Essex currently has a 5% allocation to p.e. and currently employs three single-manager private equity firms.
The request for proposals, available on the Segal Advisors Web site, is due Oct. 1.