The New York State Common Retirement Fund, Albany, is seeking a real assets consultant.
The real assets portfolio, created in 2014, "is in its development phase and continues to build key capabilities," according to an RFP posted on the website of the state comptroller, Thomas DiNapoli, who is the sole trustee of the $247.7 billion fund.
"The long-term allocation of the portfolio is 3% and the benchmark is the Consumer Price index plus 500 basis points," the RFP said. Investments in this category include agriculture, capital assets, infrastructure, renewable energy and timber.
The consulting contract will run five years, which can be extended by the pension fund for two one-year periods.
Interviews are expected to be conducted in mid- to late July. Contract approval is expected by mid-October, and the contract is expected to take effect Nov. 8.
Applications must be submitted by 4 p.m. EDT on June 8.
A spokesman for Mr. DiNapoli did not provide additional information.