Investors - SEPTEMBER 14, 2015

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CalPERS to seek real estate consultant

by Zoë Wolff

The $302 billion California Public Employees’ Retirement System is preparing to issue an RFP for a real estate consultant. The board will need to approve the RFP at this week’s board meeting.

The contract of the pension fund’s current consultant, Pension Consulting Alliance, will expire March 31, 2017. CalPERS wishes to enter into a new contract before that date. PCA is invited to rebid.

A spokesperson for CalPERS says the pension fund is looking for a consultant willing to embrace the CalPERS mission. The consultant will report to the board on investment policies and strategic plans, asset allocation, real estate market conditions and quarterly investment performance reports, among other duties.

CalPERS expects to issue the RFP in October and responses will be evaluated between November 2015 and March 2016.

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