The Queen's Health Systems, Honolulu, is searching for a discretionary private equity fund-of-funds manager to run about $135 million for its endowment, confirmed Scott Brown, spokesman for Callan Associates, investment consultant to the endowment.
The goal is to commit about $45 million per year over three years, Mr. Brown said in an e-mail. The private equity allocation will make up about 5% to 6% of total endowment assets. Mr. Brown said Queen's Health declined to disclose the total asset size of the endowment.
The RFP can be obtained by contacting Michael Bise, vice president and consultant in Callan's private equity research group, at [email protected] or 415-291-4127. Proposals are due Sept. 13. A hiring date has not been decided.