CalPERS has issued a request for proposals for investment consultants to participate in a pool of firms providing general investment consulting services.
The RFP, issued Tuesday, states the goal of the California Public Employees' Retirement System, Sacramento, is to establish a pool of service providers for use on an as-needed basis.
The contracts for the existing pool of consultants expire on June 30, 2015. The names of the consultants and whether they can rebid could not be learned by press time.
CalPERS has divided the pool into three categories; interested firms must submit a bid for the category or categories in which they are interested.
The categories are:
- Portfolio analysis, advice and/or monitoring, covering benchmark analysis and research, investment objective and portfolio strategies, and strategic risk assessments;
- Prudent opinions and other due diligence, in which the consultants would provide an opinion in accordance with state law as whether an existing or potential investment met the prudent person standard; and
- Investment board consultant (backup/special projects). Consultants in this category could provide general investment consulting, review investment policy, and review and work in the areas of asset allocation and risk management and performance.
A copy of the RFP can be found on the CalPERS website. Proposals are due Oct. 23 at 3 p.m. PDT.
CalPERS plans to issue an intent to award by the end of November. The retirement system anticipates the start date for the pool would be July 1, 2015.
The proposal package should be sent to Contracts officer; California Public Employees' Retirement System; Lincoln Plaza West; 400 Q St. W1570; Sacramento, Calif. 95911.
CalPERS spokesmen could not be reached for additional information by press time.