Minnesota SBI issues RFP for Private Markets and Alternatives Consultants

The SBI is seeking consultants to meet its alternative investment needs.

Institution: Minnesota State Board of Investment
Headquarters: St. Paul, United States
AUM: $91.5bn
Allocation to alternatives: 10.77%
Bitesize: $100-200m

Minnesota State Board of Investment has issued a request for proposal for consultants to fulfill its investment needs across private equity, private credit, real estate, real assets, hedge funds and other alternatives. Although Minnesota SBI will consider one consultant to meet all of its private market investment needs, it is open to selecting multiple consultants to satisfy one or more of the private market categories.

The institution expects to select a consultant for this five-year term in the Fall of 2020. The institution’s primary consultant is AON Hewitt Investment Consulting, and Meketa Investment Group currently serves as its special projects consultant.

As illustrated below, Minnesota SBI currently allocates 10.77% of its investment portfolio to alternative assets.

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