CalPERS today issued two private equity RFIs - one for at least one external firm to manage $2 billion in existing global partnerships, and one for an unidentified number of firms to run new custom-designed portfolios.
The $205 billion California Public Employees' Retirement System, Sacramento, had $28 billion in global private equity commitments as of Dec. 31, 2005, according to both RFIs. The third-party RFI stems from the board's December decision to reduce the number of general partner relationships managed by CalPERS staff.
The new custom-designed strategies will most likely be structured as customized funds of funds. The portfolios will invest in middle market, domestic emerging managers, venture capital, California-focused markets and clean energy and technology.
The RFIs are available on the CalPERS website at www.calpers.ca.gov. Responses to both RFIs are due no later than April 28.
No further information was available. Calls to Brad Pacheco and Clark McKinley, CalPERS spokesmen, were not returned by press time.