News & Analysis

Massachusetts pension issues secondaries RFP

The US public pension is seeking to invest up to $20 million globally.

-

Institution: Massachusetts Water Resources Authority Employees’ Retirement System
Headquarters: Chelsea, United States
AUM: $565.55m
Allocation to alternatives: 15.24%
Bitesize: $5-10m

Massachusetts Water Resources Authority Employees’ Retirement System has issued an RFP for an inaugural secondaries manager, according to a release on the pension’s website. The mandate in question will be up to $20 million.

The $565.55m pension fund is looking for new opportunities in private debt or private equity funds through growth equity/buyout, opportunistic credit and/or secondaries strategies.

As illustrated in the charts below, MWRA ERS has no dedicated allocation to secondaries but has made four fund commitments to secondaries funds since 2010 combined constituting $12 million.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.