CalPERS issued an RFP for a private equity consultant to serve as an independent adviser to the pension fund's investment committee, spokesman Joe DeAnda said.
Pension Consulting Alliance holds the current contract, which expires on June 30, 2015. The new five-year contract would begin on July 1, 2015. PCA can rebid.
CalPERS has $31 billion invested in private equity. In addition, it has another $10 billion in commitments.
The consultant would provide strategy and policy analysis to the board for the private equity asset group as well as performance analysis and monitoring for the $295.5 billion California Public Employees' Retirement System, Sacramento. The consultant would be involved in special projects for all types of private equity investments.
The RFP is available on CalPERS' website. Registration is required. Proposals are due July 2. A hiring date was not specified.