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Summary of Investment Consultant Request for Proposals (RFPs)

by Bogusia Glowacz

  • 24 Mar 2011
  • PE
  • HF
  • RE

A number of US institutional investors have recently issued RFPs for general and specialist investment consultants.

Kern County Employees' Retirement Association (KCERA) has issued an RFP for a general investment consultant to advise it on both traditional and alterative asset classes including private equity, hedge funds and real estate. The new investment consultant is expected to assist the USD 2.7 billion pension fund with investment policy development and asset allocation, conducting manager searches, as well as carrying out performance, monitoring and reporting. The term of the contract is five years and proposal responses are due by April 8, 2011.

Similarly, the USD 127 billion Florida State Board of Administration (FSBA) is searching for a new consultant as the contracts of its current advisors, Hewitt EnnisKnupp and Wilshire Associates expire on June 30, 2011. The prospective candidates will provide asset-liability studies, asset allocation modelling, investment policy development, investment risk management support, strategy and performance analysis and general investment advice and consultation. They may also occasionally advise on real estate and other private market investments. The term of the contract is three years starting from July 1, 2011.

Wyoming’s Ivinson Memorial Hospital (IMH) has also issued an RFP for an investment consultant to assist in the implementation and administration of the newly created IMH investment policy statement. The investment advisor will be engaged to provide investment advice on a yearly contract for three years. The deadline for responses is March 28, 2011.

Another US investor, the USD 8.7 billion Orange County Employees' Retirement System (OCERS), has recently issued an RFP for a general investment consultant and for a hedge fund investment consultant. The general consultant will be expected to, amongst other things, provide advice on asset allocation and asset liability, develop investment policies and strategies, report on performance and risk, and also monitor, search and analyse external managers. The selected hedge fund consultant will perform similar duties, except asset allocation, and will focus specifically on hedge fund investments. Proposal responses are due by April 1, 2011 and the interview of consultants is scheduled for July 18, 2011. The length of both contracts is set to be five years.

Other RFPs for investment consultants were also issued in the past few weeks by City of Flagstaff, Metropolitan Water Reclamation District Retirement Fund, and District of Columbia Retirement Board.

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