The New York State Common Retirement Fund, Albany, hired Hamilton Lane as its general consultant for private equity, said Matthew Sweeney, a spokesman for state Comptroller Thomas DiNapoli, the sole trustee of the $176.2 billion pension fund.
The pension fund's private equity portfolio has an approximate market value of $13.8 billion as of March 31, Mr. Sweeney wrote in an e-mail response to questions.
“The general private equity consultant is the primary consultant to the private equity program,” Mr. Sweeney wrote. The pension fund “may use other consultants for particular assignments, duties or projects, or to complete a transition period.”
Hamilton Lane was selected after the pension fund issued an RFP. LP Capital Advisors, which had been the general private equity consultant since March 2010, was invited to rebid. LP Capital continues to serve “as a special consultant for private equity,” Mr. Sweeney wrote.