Pennsylvania Public School Employees’ Retirement System, Harrisburg, is looking for a hedge fund consultant for the $51.7 billion pension fund.
Interested firms must have at least three years of experience providing hedge fund investment consulting services and have provided non-discretionary hedge fund consulting services to at least three tax-exempt clients, including at least two public pension fund clients each having more than $10 billion in total assets.
Aksia is the plan’s hedge fund consultant, said PennPSERS spokeswoman Evelyn Williams. The search is being conducted because Aksia’s contract with the pension fund expires later this year. Aksia is invited to rebid.
PennPSERS’ hedge fund allocation could not be learned by press time, but 10% of its portfolio was allocated to absolute return as of Dec. 31.
The RFP is available on the state’s purchasing website. Proposals are due at 1:30 p.m. EDT on April 17. A selection date has not yet been determined.