CalSTRS may hire McKinsey as its alternative investment consultant at its June 5 investment committee meeting, providing strategic advice to the board of the $100 billion pension fund. A second unnamed finalist withdrew from contention on May 9.
Also, the California State Teachers Retirement System, Sacramento, plans to hire KPMG; Ernst & Young; Houlihan Lokey Howard & Zukin; and Standard & Poors Corporate Value Consulting as gatekeepers for its co-investments and secondary interests in the private equity area. Fund officials plan to name additional gatekeepers to handle the funds investments in partnerships in the United States and Europe.
Under a plan adopted last November, CalSTRS is unbundling the role of its alternative investment consultant into separate gatekeeper and strategist functions. It could not be learned if Pathway Capital Management, which currently handles both roles for CalSTRS, had bid on either contract. Officials at Pathway did not return calls by press time.