Californian pension fund seeks adviser to build PE exposure

Chris Wisdom, StanCera's retirement investment officer, told Unquote that a decision to rebalance the portfolio to include a 5% allocation to private equity and 6% to private debt was made last year.

According to the RFI, the private markets adviser will work on the development of StanCera's diversified private markets portfolio, which may include primary and secondary commitments, co-investments, and private debt allocations. The organisation is aiming to achieve the target allocation quickly.

The LP is targeting global diversification in its private markets allocation, according to the RFI; Wisdom told Unquote that European investments will be considered.

StanCera already has a 4.6% exposure to direct lending, having backed funds managed by Medley Capital, Raven Capital and White Oak Pinnacle.

Wisdom said the RFI is the first step in a three-stage process. After a review of the responses received, candidates that are identified as providing the best fit may be invited to reply to a detailed request for proposal. A finalist from that process may then be selected for contract negotiation.

The deadline for responses to the RFI is 11 May.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• LPs
• Advisory
• US