Kansas Public Employees Retirement System, Topeka, plans to issue an RFP for an investment consultant and approved up to $125 million in alternatives commitments, said spokeswoman Kristen Basso in an email.
The RFP will be posted in the fourth quarter on the pension fund's website.
The search is being conducted to test the market. The contract of current consultant Pension Consulting Alliance started 10 years ago. PCA will be invited to rebid. No timeline for a hiring decision has been set.
Also, the $16 billion pension fund committed up to $75 million to New Mountain Partners V, a buyout fund managed by New Mountain Capital, and up to $50 million to AEW Partners Real Estate Fund VIII, managed by AEW Capital Management.
New Mountain Partners is a first-time relationship. The pension fund previously committed $35 million to AEW Senior Housing Investors in 2009.
The pension fund has a long-term target asset allocation of 23.5% each domestic and international equity, 13% fixed income, 11% each real return and real estate, 8% each yield-driven investments and alternatives, and 2% cash.
