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PERS committee authorizes RFPs for investment consultants, including alternatives specialist
Summary
Trustees authorized two RFPs — a general investment consulting RFP and a separate alternatives‑focused consulting RFP — to reassess the system’s consultant arrangements and technology/portal capabilities; staff said the move follows best practice and the evolving private‑markets mix of the portfolio.
The investment committee authorized issuance of two draft request‑for‑proposal documents to solicit investment consultant services: one general consulting RFP and one alternatives‑specialist RFP. Staff said the separate RFPs are intended to attract both full‑service consultants and specialist alternatives consultancies and to test new reporting and technology capabilities (portals, dashboards, private‑markets tracking).
Trustees discussed the process, including mandatory minimum qualifications, the plan to screen responses, and whether trustees should attend finalist interviews. Staff said the RFP was developed in‑house and informed by practices at other large public plans; responses and finalist materials will be published and made available to trustees. The motion to proceed was moved, seconded and approved by voice vote.
Staff will publish the RFPs on the PERS website under the RFP link and return with an evaluation of respondents and recommendations for finalists.
