CalPERS issued an RFP for a pool of real assets consultants to serve as needed for the $293 billion pension plan, said CalPERS spokesman Joe DeAnda.
Consultants in the new pool would be used to support projects and ad hoc initiatives involving investment intermediary services, investment due diligence, prudent person opinion, portfolio assistance and risk management services. None of the firms in the pool is guaranteed any engagements or compensation. The $293 billion California Public Employees' Retirement System, Sacramento, expects to select consultants in each of the five categories.
CalPERS has $28.4 billion in real assets.
The RFP is available on CalPERS' website. Proposals are due at 3 p.m. PDT July 14. Proposals will be evaluated in July and August, but CalPERS has not announced a timetable to select the pool of consultants. CalPERS anticipates the contract start date will be July 1, 2015.