Austin (Texas) Employees’ Retirement System is searching for its first private markets consultant.
The $3.6 billion pension fund issued an RFP for a consultant to provide nondiscretionary services to assist it in building out its nascent private markets program, spokesperson Mehrin Rahman said.
At its Dec. 17 meeting, the pension fund’s board approved changes in its investment policy, which consisted of the creation of a new 8% target to private equity and the reduction of global equities to 45% from 53%. Targets that remained unchanged were 21% fixed income, 15% real assets, 10% private credit and 1% cash and equivalents.
The RFP is available on the pension fund’s website. Registration is required. Proposals are due by 5 p.m. CST on Feb. 7. A timeline for a selection has yet to be determined.
