Merced County launches search for private equity consultant

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.