Hawaii Employees' Retirement System, Honolulu, is searching for a private equity consultant, global custodian and a firm to assist with establishing an internal audit function, confirmed Wes Machida, administrator for the $11.7 billion pension fund.
Altius Associates was hired as the pension fund's first private equity consultant in February and is invited to rebid. Mr. Machida said the board decided to see what else is available and that there were no performance issues with Altius. The pension plan has a 7% allocation to private equity.
Northern Trust currently provides global custody and securities lending services for the pension fund and is invited to rebid. Its contract expires on March 31.
The pension fund is also looking for a consultant to review and evaluate procedures to establish an internal audit function within the system.
The RFPs are available on the pension fund's procurement website. The custodian RFP is due Dec. 4; audit RFP, Dec. 14; and private equity consultant RFP, Dec. 19.
Hiring decisions for all three RFPs are expected in January or early February, Mr. Machida said.