Milwaukee County Employees' Retirement System issued separate RFPs for a private equity fund of funds and a manager to run a private equity mezzanine financing strategy.
The pension fund plans to commit $20 million in each search. The $1.8 billion pension fund could hire more than one manager in each search, according to the RFPs.
The RFPs are part of a move by the pension fund to commit $100 million to private equity through 2016 under a recommendation by Marquette Associates, the pension fund's investment consultant, to help get closer to a 6% allocation. The pension fund had 2.5%, or $46 million, invested in private equity.
The RFPs are available on the county's website. Proposals for both searches are due May 1. The pension fund has not publicized a time frame for hiring decisions.
Marquette is assisting in the searches.
Marian Ninneman, manager of the pension fund, couldn't be reached for comment.