Nystrs searching for PE consultant

Nystrs is a $115bn public pension fund and one of the 10 largest in the US. It has active private equity commitments of $19.5bn with 92 sponsors.

Bidders will perform annual pacing studies and recommend an annual commitment plan for each asset class, as well as due diligence on funds, and present recommendations to the Nystrs board.

Private debt is not currently within the scope of Nystrs' current advisory service provider, indicating that the institution is now actively considering the asset class.

The deadline for applications is 10 May, with the award being made in November.

The institution is currently advised by TorreyCove Capital Partners, whose agreement to provide private equity advisory services was renewed for a year at the January meeting of the board. This agreement is due to end on 1 May 2019, when the successful bidder will take over.

The Nystrs private equity portfolio is de-emphasising large and mega-buyout funds, while increasing small and mid-market buyout exposure in both North America and Europe. The portfolio has returned 9.1% over the 10 years to June 2017, underperforming the benchmark of 12.2%.

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• Topics
• LPs
• Advisory
• United States