Changes Ahead:Texas Employees seeks general consultant

Texas Employees Retirement System, Austin, issued an RFP for a general investment consultant, confirmed spokeswoman Mary Jane Wardlow. The consultant advises on the $24.6 billion fund’s assets that are externally managed, about 33% of total assets; remaining assets are handled in-house. Incumbent Callan Associates’ contract expires Aug. 31; Callan can rebid. The RFP is available at http://esbd.cpa.state.tx.us. Responses are due by 4 p.m. CDT May 23.

Oxfordshire County Council Pension Fund, Oxford, England, issued an RFP for a manager to run £100 million ($200 million) in passive U.K. equities, according to a notice on Tenders Electronic Daily, a European public procurement platform. According to a report from a December meeting of the £1 billion fund’s pension committee, the portfolio was actively managed by UBS Global Asset Management. Proposals are due May 27. Additional information can be obtained from consultant Hymans Robertson at http://www.hymans.co.uk. Anthony Wheeler, investment manager, could not be reached by press time for comment.

Maine Public Employees Retirement System, Augusta, is undertaking an asset/liability study that could lead to exposure to alternative investments, including hedge funds, private equity and global real estate, said Andrew Sawyer, CIO of the $11.3 billion system. The system has little exposure to alternatives, with about 3.7% in real estate and 1% committed to infrastructure. “They are on the table for consideration,” Mr. Sawyer said. System officials want more diversification. Ennis Knupp, the system’s investment consultant, is conducting the study, which it expects to present to the system’s board April 10, Mr. Sawyer said. The system’s current allocation targets are 41% U.S. equity, 20% international equity, 30% TIPS, 5% real estate and 4% infrastructure.