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ASSET OWNERS

CalPERS issues call for fiduciary counsel

CalPERS is searching for a full-time fiduciary counsel, said spokesman Joe DeAnda in an e-mail.

The $303.3 billion California Public Employees' Retirement System, Sacramento, is looking for a fiduciary counsel to provide specialized fiduciary advice to the system's board and staff.

The advice will include recurring questions about conflicts of interest and the board's responsibilities relative to its investment authority.

The board's current fiduciary attorney Robert Klausner consults with CalPERS on a case-by-case basis, but CalPERS wants a permanent fiduciary counsel, Mr. DeAnda said. Mr. Klausner is eligible to bid, Mr. DeAnda said.

The RFP is available on CalPERS' website.

Proposals are due by 5 p.m. PDT on Sept. 19. The RFP does not set a timetable for a decision.