Hawaii Employees Retirement System, Honolulu, could eventually issue an RFI for transition managers to be placed on a preapproved list for future use, pending approval of $8.768 billion systems board, said CIO Rod June.
The board on Monday approved allowing staff to develop the RFI.
The system does not have a specific transition manager, but Mellon Transition Management Services was hired for a transaction last year.
The system wants to have a list of transition managers to use as needed without doing searches each time, Mr. June said.
Also on Monday, the board decided to commit between $90 million and $100 million to private equity in 2009, with a 3.5% target to the asset class by 2014. The system is actually above that target now, Mr. June said, but the board wanted to show its commitment to private equity.