The $376 billion California Public Employees’ Retirement System is looking to renew Meketa Investment Group’s contract as infrastructure consultant, according to recently released board meeting documents.
The pension fund also is considering investment consultants for several other allocations within its private asset class investment portfolio, which include infrastructure, real estate, private equity, and the general pension plan.
Following the May 22 RFP filing, CalPERS received eight proposals, all which passed the preliminary minimum qualifications review. A formal interview process will now take place in an open-session meeting, after which the subcommittee will make its recommendation to the full committee at the next open-session meeting.
Meketa’s contract began with CalPERS on July 1, 2015, and is scheduled to end on June 30, 2020, until it is renewed. Right now, the consultant is the only candidate in the running for the infrastructure portfolio.
Meketa also is being considered for all the other opening consultant positions within the larger investment portfolio. According to the document, a single firm may be awarded up to three private asset class consultant services.
Meketa would cost the pension fund $525,000 in total proposed fees if it is renamed infrastructure consultant.