Employees Retirement System of Texas, Austin, is searching for a private equity adviser to assist the $24 billion system in constructing a new private equity allocation, which was approved last year, confirmed consultant Gary Robertson at Callan Associates. The fund will likely invest $700 million a year in a diversified, broad-market private equity portfolio. Cynthia Wilson, coordinator at the retirement system, could not be immediately reached for further details on the RFP.
Information about the search is available online at http://esbd.tbpc.state.tx.us/google/gbid_show.cfm?bidid=69299. Proposals are due March 27. No timetable for a decision was available.