University of Alberta, Edmonton, is searching for the first private equity investment consultant for its C$1.4 billion (US$1.04 billion) endowment pool, a spokesman said.
The university issued an RFP for a consultant to advise on the endowment’s private equity portfolio . The endowment has a 6% target to private equity that was established in 2013 and has committed thus far to secondary private equity funds and one venture capital fund of funds. The spokesman said the endowment is looking at a shift to primary funds and sees “a consultant as adding value to selection process for primary funds.”
Firms are welcome to bid to additionally advise on the endowment’s real estate and infrastructure and oil and gas portfolios, which both have 5% targets.
The RFP also said an asset allocation study is scheduled for 2017 and an increase in the private equity target is “likely.”
Proposals are due at 2 p.m. MST on Dec. 12. A selection is tentatively scheduled for April 1.
The RFP is available on Alberta’s website. Registration is required.