Philadelphia Board of Pensions and Retirement is searching for a private equity investment consultant, confirmed Christopher R. DiFusco, chief investment officer for the $5.5 billion pension plan.
The search is being conducted because the plan's contract with current consultant Torrey Cove Capital Partners is set to expire soon. Torrey Cove is invited to rebid, Mr. DiFusco said.
The RFP is available on Philadelphia's procurement website. Registration is required.
Proposals are due 5 p.m. EDT Sept. 4. The board plans to sign a contract with the selected consultant by Nov. 1.
As of May 31, the system's actual asset allocation was 28% domestic equities, 22.7% international equities, 17.9% real assets, 17% global fixed income, 8.5% private equity and the remainder in cash.
