The comptroller’s office of the City of New York has issued a ‘request for proposals’ for a private equity investing consultant and provider of monitoring services, the office has announced.
The comptroller, William Thompson, serves as a trustee or advisor for five New York City pension funds, including plans for the city’s teachers, firefighters, police, Board of Education and public employees. The plans have roughly $83 billion in assets under management.
A year ago, the pensions decided to significantly increase their collective allocation to private equity. Currently, the plans have a 5 percent allocation, established in 1997 on the advice of consultant Pacific Corporate Group.
Josh Wolf-Powers reports to Thompson as a managing director of private markets.
More than a year ago, the comptroller’s office requested proposals for a ‘debt-based economically targeted investment’ programme, targeting low-, moderate- and middle-income communities and populations.
The nearby New Jersey public employees pension is currently creating a private equity programme under the direction of former Hicks Muse Tate & Furst partner Cesar Baez.