CalPERS launched its search for general investment consultants and private equity, real estate and infrastructure consultants, according to an RFP posted on the website of the $354.8 billion California Public Employees' Retirement System, Sacramento.
The investment committee at its December meeting had approved the issuance of the RFP following its August decision to amend the contracts of its investment consultants to all expire on the same date, June 30, 2021, in a move to reduce the number of RFPs the pension fund would need to issue and potentially hire fewer consultants.
The incumbents are: Wilshire Associates, general investment and forestry consultant; Meketa Investment Group, private equity and infrastructure; and Pension Consulting Alliance, real estate. In January, Meketa announced an agreement to acquire PCA in a transaction that is expected to close in the first half of 2019. All incumbent firms are invited to rebid.
The RFP, issued March 8, is available on CalPERS' bid opportunities website. Registration is required. Proposals are due at 3 p.m. PDT on April 30. Finalist interviews and a notice of intent to award are scheduled for sometime in August.