Fresno City seeks private equity ‘fund of one’ manager

The $3bn US public pension plans to allocate $120m over 3-4 years for the customized vehicle.

City of Fresno Retirement Systems is soliciting proposals from investment firms to manage a private equity “fund of one” mandate.

According to Fresno’s request for information, the selected firm will receive $120 million over the course of three to four years to manage a globally-focused, customized fund. The deadline to send questions is 6 April, and the submission deadline is 4 pm on 4 May.

The $3 billion US public pension has a 4 percent target allocation to private equity.

Platinum subscribers may click here for Fresno City’s full profile, including key contacts, allocation strategy and fund investments.