Bethlehem (Pa.) Aggregated Pension Fund is seeking up to two managers to run a total of approximately $10 million in private equity funds of funds, according to an announcement from Morrison Fiduciary Advisors, the $135 million pension plan’s investment consultant.
This is the city’s first investment in private equity funds of funds. The anticipated funding will come from a rebalancing of the portfolio, said Robert Bulas, consultant at Morrison Fiduciary Advisors.
Managers that wish to be considered must have an all-purpose, multistrategy private equity fund of funds. They must also have managed a private equity fund of funds for at least 10 years with completed fund history of at least $2 billion in assets raised. The plan is not searching for private equity real estate.
The RFP can be found on Morrison’s website. Proposals are due by 2 p.m. EDT May 1. A selection is anticipated to be made in late May or early June.