Merced County (Calif.) Employees' Retirement Association is searching for its first private equity consultant, said Kristen Santos, retirement plan administrator, in an email.
The $687 million pension fund issued an RFP as a result of investment consultant Verus Advisory's recommendation to increase the private equity target allocation to 9% from 7% following an asset-liability study.
As of Sept. 30, the pension fund's actual allocation to private equity was 5.2%.
Proposals are due at 4 p.m. PST on March 2. A decision is expected on April 13.
The RFP is available on the county's website.