Maine Public Employees Retirement System, Augusta, will launch an invitation-only search for alternative consultants this month.
The $18.2 billion pension fund will send requests for proposals to a preselected list of candidates due to its board's policy to put services up for bid every five years, said James Bennett, chief investment officer, in an email.
The current consultants are Cliffwater for alternative credit, infrastructure, natural resources and private equity, and ORG Portfolio Management for real estate, Mr. Bennett said. Both firms have been asked to rebid.
The RFP is currently in draft form and a timeline has yet to be determined.
As of March 31, the pension fund's actual allocations to private equity, infrastructure, real estate, alternative credit and natural resources were 20.3%, 11.1%, 9.4%, 6.4% and 4.6%, respectively; their respective targets are 15%, 10%, 10%, 7.5% and 5%.
