Maryland State Retirement & Pension System, Baltimore, issued a request for information for a private equity consultant.
The current consultant, Pavilion Alternatives Group, is eligible to rebid for the contract, which starts May 1. The contract is for five years, with the option of two, one-year extensions.
As of Nov. 30, the $45.5 billion pension fund had 9.8% of assets in private equity. The target allocation for private equity is 11%.
Spokesman Michael Golden said the fund typically reviews its asset allocations at the board of trustees' May meeting.
The pension fund may choose one or more firms to provide all or some of the services, “or may determine not to choose any firms,” the RFI said. Interested firms are encouraged to use minority business enterprises.
The RFI is available on the state's online procurement system.
Proposals are due by 4 p.m. EST on Feb. 3; a decision is expected by April.