Building Service 32BJ Pension Fund, New York, is searching for a discretionary private equity manager.
The multiemployer pension fund is searching for a manager to commit about $50 million per year for an initial five-year period, according to an RFP posted on the website of Meketa Investment Group, the pension fund's investment consultant, which is assisting with the search.
The selected manager should have experience managing "bespoke portfolios of direct private equity mandates and co-investments, secondaries or a combination thereof," according to the RFP.
The RFP does not disclose whether there is an incumbent or if the firm is eligible to rebid.
As of June 30, 2020, the Building Service 32BJ Pension Fund had $2.8 billion in assets, according to the pension fund's most recent Form 5500 filing.
The RFP is available on Meketa's website. Proposals are due at noon EDT on Sept. 27. A timeline for a selection was not provided.
Danny Chan, vice president, and Sabina Panthi, investment analyst, both at Meketa, could not be immediately reached for further information.