New York City Retirement Systems is seeking at least one brokerage services firm for the possible sales of interests in the systems' private equity partnerships, according to the office of New York City Comptroller John C. Liu.
Mr. Liu is the investment adviser and custodian for the five city pensions plans, which had aggregate assets of $118.5 billion as of March 31.
“This is a new RFP under the existing rules,” Michael Loughran, a spokesman for Mr. Liu, wrote in an e-mail. “The request for proposals relates to services to assist the New York City Comptroller's Office Bureau of Asset Management in executing the potential sale of various private equity funds, should the New York City Pension Boards decide in the future to do so.”
As of Sept. 30, the various city plans had more than 160 funds in their private equity portfolios with about $12.6 billion in commitments, according to the RFP.
The RFP is available on the comptroller's website.
Information may be obtained by contacting: Evelyn Dresler, Office of the Comptroller of the City of New York, Municipal Building, Room 650, 1 Centre St., New York, NY 10007-2341, or by e-mail at [email protected]
Proposals are due at 2 p.m. EDT June 21. Evaluations and interviews will take place in July, selections will be made in August, and contracts will take effect in November.
