Falmouth Retirement System seeks PE manager

The pension will only accept fund of funds strategies that focus solely on secondaries.

The Town of Falmouth Massachusetts’ Retirement System is searching for a private equity manager to help it invest up to $5 million of its portfolio and has emphasised it is interested in secondaries.

The $112 million pension fund will examine a broad range of strategies and will only consider funds of funds if they invest solely in secondaries, according to Request For Proposal (RFP) issued in April. The pension wants to invest up to $5 million.

Proposals should be submitted by 28 September.

Candidate managers must have been in existence for at least five years, must have managed at least three private equity funds with the same strategy as the one proposed and must have at least $250 million of committed capital in private equity, in addition to other requirements.

Falmouth’s retirement system has previously committed to secondaries vehicles including Lexington Partners’ 2001-vintage $2 billion fund, according to PEI Research and Analytics.