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5yrs ago Hedge Fund hfm.global Views: 356

The City of Worcester Retirement System is searching for an active bank loan manager to run approximately $11m.

The $956m Massachusetts retirement system includes bank loans among the permissible asset classes within its fixed income bucket, for which it has a target allocation of 10%.

As of 31 December 2017, the most recent figures available, the system had an actual fixed income allocation of 23.2%, or about $221.8m.

According to the RFP, the city is looking for firms with at least $1bn under management, including at least $300m in bank loans with a five-year performance history.

Proposals are due by 3 pm ET on 23 November.

Consultant Meketa is assisting with the search.

A representative for the city’s retirement system did not immediately return a phone call seeking further information.

Worcester Retirement System seeking bank loans manager on HFM InvestHedge.


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