CalSTRS seeks PE fee consultant
US pension fund California State Teachers' Retirement System (CalSTRS) has issued a request for proposals for a private equity fee consultant.
The successful candidate would be required to validate investment management fees, expenses and carried interest paid by CalSTRS for a sample of private equity funds.
Meketa Investment Group is CalSTRS' current private equity consultant, but the fee consultant would be a separate position, according to the document.
The LP has a private equity portfolio of 400 funds managed by 120 GPs with a total market value of $17.3bn. This comprises 69% buyout funds, 8% VC funds, 13% debt-related funds, 2% core private equity and 7% special mandates.
The deadline for proposals is set to 13 April.
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