Institutional Investors

Boston begins consultant search

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The City of Boston Retirement Board has issued a RFP for investment services for both general and public markets as well as alternative investment consulting.

The Board, which oversees the $3 billion retirement fund, may hire a single firm or retain multiple firms, according to information posted on the system’s website. Responses are due back by February 28. NEPC is Boston’s current investment consultant.

Officials began their hedge fund invetsments in 2007 with approval to invest up to 7.5% of the portfolio assets in hedge funds of funds. Since then trustees have allocated to: Arden Endowment Advisors Fund; Federal Street