The $8.3 billion retirement system, which is an active investor in private equity, has reached the evaluation phase of its search for a general investment consultant. Respondents to the RFP are expected to have a minimum of five year’s experience providing investment consulting services, and already provide consultancy services to at least three other public pension funds. OTRS will make a final decision at some point in 2010. The investment consultant is to assist the retirement system with its investments by providing monthly and quarterly board reports, recommendations, aid with investment searches, and asset allocation, amongst other duties. The retirement system’s incumbent general consultant is gregory.w.group.
OTRS has also awarded a private equity mandate to Pennsylvania-based Franklin Park. OTRS awarded this $400 million discretionary private equity mandate following the termination of its previous $450 million mandate with Aldus Equity in May 2009. OTRS had been in search of a private equity investment consultant to handle its relatively new private equity program since that time. For this mandate, OTRS and Franklin Park will be looking to consider a variety of fund types, including buyout, venture, and mezzanine. OTRS has set a 5% target to the private equity asset class.
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Detailed analysis of and profiles for investment consultants active in the alternative investments space are available in The 2010 Preqin Alternatives Investment Consultant Review