CalPERS to hire PE consultant in 2019

Currently, the $356bn pension fund employs Meketa Investment Group and Wilshire Associates Incorporated for its private equity and general pension portfolios respectively. However, both contracts expire in June 2020.

Calpers is seeking to sign three-year agreements with each contractor with the option to extend the contracts annually in each of the subsequent two years, for a potential maximum of five years.

The pension fund's investment committee is expected to conduct a vote on the matter on 17 December. If approved, Calpers will issue a joint RFP for the consultancy services on 15 January 2019, with a deadline of 5 March 2019. Subsequently, the pension will announce its awarded contracts in June 2019.

The annual contract value was $570,000 for Meketa's private equity services, and $3.5m for Wilshire's services to the general pension portfolio. However, the report states that the investment office plans to negotiate favourable terms for the new agreements with the selected finalists.

The pension fund recently hired Yu Ben Meng as chief investment officer, following the resignation of Ted Eliopoulos earlier this year. Eliopoulos has later joined Morgan Stanley as vice-chair of investment management and head of strategic partnerships, according to the firm's spokesperson in early December.

Calpers has invested around 7.7% of its portfolio to private equity as of July 2018. It has previously committed to Permira Growth Opportunities I, Vista Equity Partners Fund VII and Carlyle Europe Partners V.

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

• Topics
• LPs
• United States
• CalPERS