CalPERS wants more information on ESG strategies for global equity portfolio

CalPERS issued an RFI seeking money managers to submit proposals for ESG-related investment strategies for the $311.7 billion pension fund's global equity asset class.

The RFI indicates that investment staff intends to review all responses but that staff “has not determined if a formal solicitation will be issued.”

“It is not a manager search, and we don't have an AUM target. It is a research project, hence the request for information,” said CalPERS spokeswoman Megan White in an email.

The California Public Employees' Retirement System's global equity program had $140.8 billion in assets as of Nov. 30, the latest data available from the Sacramento-based plan. All of CalPERS' external equity managers must take into consideration environmental, social and governance factors in their investment decisions.

Money managers submitting proposals must have more than $2 billion in assets under management or assets under advisement.

Proposals are due by 5 p.m. PDT on March 31. CalPERS has not set a time frame for when it will determine whether to issue a formal solicitation.

The RFI is available on CalPERS' website. Registration is required.