FABF, which is an active institutional investor in private equity, is in the process of assessing the responses to its RFP, which were due on the 22nd of January. FABF has a 4% target allocation to the asset class. It generally looks to invest in North American and European focussed private equity vehicles across a variety of fund types.
The retirement system is seeking an investment consultant to provide a bundled service, covering general performance and risk management as well as investment consulting, for a period of up to, but not more than, five years. The consultant will aid FABF with its manager searches and selection. Minimum requirements for respondents were as follows: respondents must have proven experience in providing investment consulting services to large corporate, public and Taft-Hartley defined benefit pension plans, foundations and endowments; respondents must demonstrate, through accessible current references, that it has provided investment consulting services, inclusive of all traditional assets and alternative investments, and performance and risk measurement, for a minimum period of seven years, to a minimum of seven US public employee retirement systems, two or more of which have assets of at least USD 5 billion. A final decision is expected to be made by April 2010, with the selected firm expected to assume the position late in H1 2010 or early H2 2010.
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Detailed analysis of and profiles for investment consultants active in the alternative investments space are also available in The 2010 Preqin Alternatives Investment Consultant Review.