Ventura County (Calif.) Employees’ Retirement Association is searching for a private equity separate account manager, said Daniel Gallagher, chief investment officer.
The selected firm will provide portfolio management services with discretion to make investments with some limitations, to help the pension fund reach its new 10% private equity target. The parameters have not fully been determined.
Last year, the pension fund doubled its private equity target to 10% and is currently around 3%.The private equity portfolio now is all funds of funds, according to the RFI.
The request for information is available on the $4.3 billion pension fund’s website.
Responses are due by 4:30 p.m. PDT on April 8. After a review of the responses, select firms will be invited to apply for a follow-up RFP. A timeline for a hiring decision could not immediately be learned.
Investment consultant NEPC is assisting.