CalSTRS issued an RFP for a consultant for the fund's $9.4 billion alternative investments portfolio, which is currently invested solely in private equities. In addition to traditional private equity investments, the consultant will need to be familiar with hedge funds, infrastructure projects, commodities, natural resources and other alternative areas in which CalSTRS officials had signaled interest. The $157.9 billion California State Teachers' Retirement System, Sacramento, plans to increase its alternatives portfolio to 9% of total assets from 6% over the next several years. Incumbent McKinsey & Co. is eligible to rebid on the contract, which is for three years with two optional one-year extensions. The RFP can be found at www.calstrs.com/rfp. Proposals are due March 30, with a selection expected by July 1.