Orange County Employees Retirement System, Santa Ana, Calif., plans to launch a RFP as early as June 21 for a new alternative income strategies portfolio after receiving 17 registered prospective bidders covering seven asset categories from an exploratory RFP in May, said Girard Miller, chief investment officer for the $12.6 billion pension fund, in an e-mail.
The exploratory RFP was issued to help officials evaluate strategies that might be used in an alternative income asset strategy. The objective was to find “differentiated, proficient, seasoned and successful alternative income asset managers,” according to the exploratory RFP.
Of the 17 registered prospective bidders for the alternative income strategies portfolio, six are competing in the real estate debt category, four are likely to bid on infrastructure and power, and four are expected to bid on credit strategies, Mr. Miller wrote.
“Every one of OCERS' (seven) categories of eligible strategies is represented by at least one registered firm,” Mr. Miller wrote. “We consider this a strong proof of concept for the alternative income portfolio thesis staff is developing for our board to consider.”
The RFP will be posted on OCERS' website. The deadline for proposals is expected to be June 27.
