New York pension fund hunts for PE consultant

The $119.9bn pension fund plans to make a single award, where the initial contract would be for one year. However, there would be options to renew for up to four successive one-year terms.

The successful consultant will be in charge of performing annual pacing analysis at the asset class level for the private equity and private debt portfolios. Responsibilities include due diligence, investment recommendations, and collecting portfolio- and company-level data.

Optional services include providing research on trends in private equity and private debt, preparing analyses to define goals, providing training, and monitoring legacy limited partnerships.

The deadline for proposals is 9 May.

The interviews will take place in June, and the finalist will give a presentation to the pension scheme's board on 31 October.

The mandate is expected to be awarded in November, and the new contact will commence in January 2020.

The RFP can be found here.

The US pension fund's current private equity consultant is TorreyCove Capital Partners. The LP has renewed the agreement with TorreyCove to serve as the scheme's consultant for one year, effective 1 May 2019.

NYSTRS has invested 7.1% of its portfolio to private equity as of June 2018, versus a target allocation of 8%. 

It has previously committed to Abry Partners IX, TSG 8, Astorg VII, and TCV X.

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• Astorg Partners
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