Investment management firms to manage a Private Debt mandate

The Boston Water and Sewer Commission is soliciting proposals from investment management firms to manage a Private Debt mandate for the System’s $61.0 million, OPEB Trust. This search will target funds focused on the following strategies: Direct Lending.

Candidates must be raising a closed-end private debt fund with a final closing date no earlier than September 30, 2025.

Preference will be given to candidates that have raised at least two prior funds and will be raising at least $300 million in the current fund. Managers are expected to provide performance data for prior funds through December 31, 2024 (or most recent available).

The Boston Water and Sewer Commission OPEB Trust anticipates committing approximately $4 million to a private debt strategy. Please note that the commitment amount may be subject to change.

All Request for Qualifications (RFQ) must be submitted via email to bwscsearch@nepc.com by 4:00 pm (EDT) on March 27, 2025. No proposals will be accepted after this deadline. The subject line of your e-mail should also include reference to Boston Water and Sewer Commission OPEB Private Debt Manager Search.

The Executive Director reserves the right to reject any and all proposals. The award of any contract is subject to the approval of the Board of Commissioners.