Institutional Investors

Worcester seeks natural resources manager


Worcester Retirement System in Massachusetts has begun a search for a private markets natural resources manager.

The board of the $535 million retirement system is looking for capabilities and experience in managing funds of funds or primary funds in the natural resources area for a mandate totaling $5 million to $10 million. Worcester is asking for a demonstrated ability to manage a diversified strategy by type (extracted, harvested, renewable); geography, stage, manager and vintage year.

The deadline for the search was in late March. The city pension fund already has a 7% allocation to absolute return strategies and