The California Public Employees’ Retirement System (CalPERS) has sent out a request for information (RFI) as it looks for a strategic partner to manage its $26.2 billion private equity portfolio.
The $326.4 billion US public pension is currently at its 8% allocation target to private equity, not including an additional $14 million in unfunded commitments.
According to the RFI, dated 21 December, firms have a deadline of 19 January to respond to the request. CalPERS will conduct interviews at its board meetings in March and April and will make a decision thereafter at an unspecified date.
CalPERS’ current investment consultant is Meketa Investment Group.