San Francisco City & County Employees Retirement System will issue an RFP on Friday for a new alternative investment consultant for the systems $4 billion private equity portfolio, said Alison Johnson, spokeswoman at the $16.9 billion pension fund. Incumbent Portfolio Advisors contract expires June 30, and it is the funds policy to issue an RFP. Proposals are due March 14. The RFP will be available on the funds website, www.sfgov.org/sfers.
Separately, the system hired European Investors and ING Clarion Real Estate Securities to run a combined $150 million in publicly traded real estate securities, a new investment for its $1.63 billion real estate portfolio. Funding will come from reducing allocations to domestic and international equities, according to a previous board agenda.
The board also approved investments of up to $30 million each to ABRY VI, which invests in the media, entertainment and communications industries, Advent International GPE VI, a global middle-market buyout fund; and Actis Emerging Markets 3; as well as up to $10 million to Clarus Lifesciences II, which invests in biopharmaceuticals and medical devices.