Sacramento County (Calif.) Employees’ Retirement System is searching for an alternatives investment consultant for the $10 billion pension fund.
The search is being conducted “to evaluate the marketplace for consulting to assist in the further development and ongoing monitoring of SCERS’ maturing alternatives portfolio,” the RFP said. The consultant would advise on the absolute return, private credit, private equity, real assets and opportunities asset classes.
Cliffwater is the current alternative assets consultant. It could not be learned whether the firm is invited to rebid. Verus Advisory is SCERS’ general consultant and Townsend Group is its real estate investment consultant.
While the board would prefer one consultant to cover all asset classes, it will consider multiple consultants to focus on individual asset classes.
As of Dec. 31, SCERS had a target allocation of 39% to alternatives, which consists of 10% absolute return, 9% private equity, 7% each real estate and real assets, 4% private credit and 2% liquid real return.
The RFP is available on the pension fund's website. Proposals are due 5 p.m. PST March 6. The board expects to interview finalists on June 17.
Steve Davis, chief investment officer, could not be immediately reached for additional information.
