Newfoundland and Labrador Pooled Pension Fund, St. John’s, is searching for its first private equity and infrastructure investment consultant for the C$7.9 billion (US$7.3 billion) pension fund, said Natasha Trainor, manager of pension investments for the province’s department of finance.
The selected consultant will help the pooled fund develop investment guidelines for private equity and infrastructure, according to the RFP.
“We have limited internal staff, which is why we require a consultant to work with us on our private market investments,” Ms. Trainor said in an e-mailed response to questions. “We have a target allocation of 5% to each asset class, but have not yet made any investments in these asset classes.”
The RFP is available on the province’s government purchasing agency website. Proposals are due at noon Newfoundland Daylight Time on June 27; finalist interviews will be held July 16-17. No hiring date was specified in the RFP.
Russell Investments, the pension fund’s current general investment consultant, is unaffected by the current search but can submit a bid, said Ms. Trainor.