Arlington County Employees picks Franklin Park to consult on alternatives program

Arlington County (Va.) Employees' Retirement System hired Franklin Park Associates as consultant to help expand private investments for the $1.7 billion pension fund.

Daniel Zito, the pension fund's executive director and chief investment officer, declined to discuss details until negotiations are complete. Franklin Park is a private equity specialist but will advise on the entire alternatives portfolio.

The private investments program could range from $100 million to $200 million over five to seven years, but Mr. Zito said there are no specific asset allocation targets. The alternatives allocation is capped at 15% of the pension fund's total assets.

“We are going to do this opportunistically. We will pursue it, but not if the investment doesn't make sense,” Mr. Zito said in an interview.

— Contact Hazel Bradford at hbradford@pionline.com | @Bradford_PI