Missouri Local Government Employees Retirement System, Jefferson City, hired Albourne Partners as its private markets consultant, a spokesperson for the $10.8 billion pension fund confirmed.
MOLAGERS did not have a private markets consultant previously, the spokesperson added.
According to the RFP issued July 1, the private markets consultant will provide LAGERS with a variety of investment advisory, monitoring and reporting services, and will consult on all private markets and alternative investment strategies including, but not limited to, private equity (venture capital, growth equity and buyouts), private real assets (infrastructure, natural resources and real estate), private debt (direct lending, mezzanine debt and distressed debt), and other liquid alternatives (hedge funds).
The contract for the private markets consultant started Sept. 1 for an initial period of one year, after which LAGERS will retain the right to extend the contract for two more years with services and fees to be agreed upon by both parties, the RFP noted.
As of June 30, MOLAGERS had a 24.8% allocation to private real assets, 16.8% to private equity, 8.2% to private fixed income and 3.3% to private strategic assets.
For the year ended June 30, MOLAGERS returned a net 5.7%, well below its 9.4% benchmark. Performance by asset class was not available.