Seattle City Employees' Retirement System is searching for a private equity manager, said Anthony Smith, investment strategic adviser.
The chosen manager will work with the $2.2 billion pension fund in a fund-of-one arrangement.
The search is the result of the pension fund's efforts to reach its target allocation to private equity of 7% by the middle of 2018. The actual allocation to private equity is about 2%, according to the RFP posted on the pension fund's website.
Proposals are due at 5 p.m. PDT on April 11. The pension fund's investment committee plans to make a selection following its meeting on May 29, Mr. Smith said, subject to board approval.