San Bernardino Seeks Credit/Debt Managers

Jan 14 2008 | 1:03am ET

The $6.2 billion San Bernardino County Employees' Retirement Association is looking for credit/debt managers with an absolute return or relative value focus. SBCERA will consider a range of strategies, including those that invest in bank loans, senior secured debt, subordinated debt, convertible bonds, asset-backed securities, mortgage-backed securities and other floating rate, short-term, and structured instruments.

Strategies that use short-selling, leverage and derivatives, and invest in par, stressed, and distressed-debt instruments, will also be considered, as will products that tactically allocate among credit strategies. The total allocation to this mandate is approximately $200 million and it is likely that several managers will be selected.

To be considered, the investment manager must have $500 million in assets under management and a three-year track record in the proposed product.

The deadline for the request for proposal, which can be accessed on New England Pension Consultants’ Web site, is Jan. 31.

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