CalPERS will launch a search in October for a real estate investment consultant, spokeswoman Megan White said in an e-mail.
The $288 billion California Public Employees’ Retirement System, Sacramento, will issue an RFP due to the expiration of current consultant Pension Consulting Alliance’s contract on March 31, 2017. PCA will be invited to rebid.
CalPERS’ interim strategic target for real estate is 10%. As of March 31, the actual allocation was 8.5%.
The RFP will be available on CalPERS’ website. A proposal due date has yet to be determined. Finalist presentations are tentatively scheduled to take place in April 2016, with a contract execution taking place in August.
