Virgin Islands Government Employees' Retirement System, St. Thomas, is searching for a local alternatives consultant, confirmed Austin Nibbs, administrator.
The selected firm will provide consulting and due diligence services only for potential alternative investments within the Virgin Islands territory. The current local consultant, whose name could not be learned, can bid. Meketa Investment Group handles consulting services for all investments outside the territory.
The contract is for two years. The $970 million retirement system has a 10% allocation to alternatives. Mr. Nibbs said the board has discretion on how to allocate to local or outside investments.
The RFP is available on the pension plan's website. Proposals are due at 5 p.m. EDT June 19. A hiring decision is expected by July 15.