Private Equity News & Analysis

NYC Teachers’ seeks PE consultant

The $34bn pension, which currently works with PCG as its private equity consultant, has commitments to 125 funds.

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The Teachers’ Retirement System of the City of New York is seeking a private equity investment consultant for its $34 billion pension fund.

TRS’s current private equity consultant is PCG Asset Management, according to the RFP.

TRS has private equity commitments to 125 funds totaling $3.38 billion with $1.94 billion in invested capital, as of Sept. 30, 2009.

The selected consultant will provide TRS with advice on private equity related investment strategies including corporate finance, venture capital, mezzanine, distressed, secondary, and fund of funds.

Proposals are due 3 May and a decision is expected by 1 July.

Recently, former private equity executive Larry Schloss was named CIO of New York City’s five pension funds, replacing Rita Sallis. Schloss served as chairman, chief executive and co-founder of Diamond Castle.