Secondaries Strategies Private Equity Investment Manager Services

The Somerville Retirement Board in Massachusetts is seeking qualified private equity investment managers to provide secondaries strategies for the retirement system's multi-million dollar investment portfolio. This procurement covers general partners, investment managers, and sponsors of hedge funds, private equity funds, real estate funds, infrastructure funds, and any entity to which the retirement board delegates discretionary investment authority. The agency is attempting to secure experienced management services to optimize its investment portfolio through these specialized secondary market strategies. Bidders must state whether the manager or any principal, employee, agent, or affiliate has compensated or agreed to compensate, directly or indirectly, any person or entity to act as a placement agent in connection with investment by the public pension systems. The agency also requires a detailed resume for each placement agent, which must outline the individual's education, professional designations, regulatory licenses, and investment and work experience. Only onshore organizations based in the United States are eligible to submit proposals for this opportunity. The agency anticipates a contract period of one year for these services. The designated work will be performed offsite rather than at the agency's physical location. The agency is currently looking for proposals to determine the budget and cost structure for this contract.