Friday, 29 July 2016
Last updated 51 min ago
Mar 3 2006 | 12:00am ET
The $666 million City of Worcester (Mass.) Retirement System has begun discussing how to construct a search process for a private equity manager. Chairman James DelSignore said he thinks that searching for a private equity manager is more difficult than searching for a traditional manager and added that the board’s consultant, Meketa Investment Group, will probably conduct a shortlist of candidates instead of issuing an RFP.
Calls to John Haggerty of Meketa were not returned by press time. Meanwhile, the board is in ongoing discussions regarding portable alpha vehicles, including hedge funds, funds-of-funds and multi-strategy funds. DelSignore said a possible search is several months away. The plan decided to investigate investments in the asset class after MassPRIM issues an RFP for portable alpha in April. “Once the state moves first, we will follow,” he said.