The New Bedford Retirement Board (“Board”) is conducting a search for an open-end Timber Fund and/or an open-end Timber and Farmland Fund ("Proposed Product"), excluding publicly traded Timber REIT Funds. The mandate will be approximately $16 million. The Board currently has a global timber and farmland fund and the search is being conducted per M.G.L Ch. 32, which requires the Board to re-evaluate its existing managers on a periodic basis (required every 7 years).
All investments made by the Board are subject to the provisions of the Massachusetts General Laws, Chapter 32 and the rules and regulations of the Public Employees Retirement Administration Commission (PERAC). The selected investment manager(s) must have familiarity and agree to comply with all applicable laws and PERAC regulations. The Board reserves the right to cancel or reject in whole or part any or all proposals in the best interest of the Retirement System.
Proposal must be received prior to 1:00 p.m. EST on January 20, 2025. Proposals will not be accepted after the closing date and time.
To obtain a copy of the RFP please visit the Segal Marco Advisors website.
| Date published: | December 20, 2024 |
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