CalPERS is searching for an infrastructure investment consultant that would serve as an independent adviser to the pension fund's investment committee, said spokesman Joe DeAnda.
The $289.1 billion California Public Employees' Retirement System, Sacramento, is conducting the search because the contract of current consultant Meketa Investment Group is scheduled to expire on March 1, 2015. Meketa has served as infrastructure consultant since January 2010 and is invited to rebid.
The new contract is expected to be for five years.
Applicants must have a minimum of three years' experience providing consulting services to public pension funds with at least $10 billion in assets. That experience must have also occurred in the last five years.
The RFP is available on CalPERS' website. Proposals are due May 29 at 3 p.m. PDT.
CalPERS officials expect to make a decision in about 10 months.