New Mexico Public Employees Retirement Association, Santa Fe, is searching for one or more investment consultants for illiquid assets.
The $17 billion pension fund is seeking proposals from consultants that can provide services for up to five of its illiquid asset classes, CIO Michael Shackelford said.
Those asset classes are absolute return, private/illiquid credit, private equity, private/illiquid real assets (which includes infrastructure, natural resources and agriculture), private/illiquid real estate. Consultants have the option to submit proposals for services for any one or more of the asset classes.
Shackelford said PERA issued the RFP because the contracts of the two current consultants are expiring. Aksia, which consults on private equity and illiquid credit, and Albourne America, which consults on absolute return, illiquid real assets and illiquid real estate, are both invited to rebid, he said.
Target allocations are 19% private equity, 11% illiquid real assets, 9% illiquid credit, 7% illiquid real estate and 6% absolute return.
The RFP is available on PERA’s website. Proposals are due by 5 p.m. MDT on Sept. 13. Selections are expected before the end of the year.
