Key Takeaways
- • CalPERS selected Wilshire Advisors as its Private Debt Board Consultant, according to ai-cio.com, following a competitive selection process among several bidders.
- • The consulting engagement is reported at approximately $425,000 per year, per CalPERS board agenda materials.
- • CalPERS's Board approved a 5% dedicated strategic allocation to private debt, with the Private Debt Program scheduled to start July 1, 2022.
- • Competing bidders for the mandate reportedly included Meketa, RVK, and Verus, with Wilshire already serving as CalPERS's general fund consultant.
Summary
The California Public Employees' Retirement System (CalPERS) has selected Wilshire Advisors as its consultant for its private debt asset class, according to ai-cio.com. The selection was made by the Board of Administration, which designated Wilshire as its Private Debt Board Consultant after a bidding process.
Publisher context indicates that CalPERS added private debt as a new strategic asset class in November 2021, with a 5% dedicated allocation to private credit. The program is scheduled to begin July 1, 2022. Board agenda materials put the proposed consulting fee at approximately $425,000 per year.
According to related coverage, the consultant search drew several bidders, including Meketa, RVK, and Verus, alongside Wilshire Associates, which already serves as CalPERS's general fund consultant. CalPERS had earlier issued a request for proposals for new investment consultants, seeking five-year contracts with multiple firms.
The mandate reflects CalPERS's broader push into private markets, as the pension expands its private debt exposure through a dedicated program overseen by an outside consultant.
Publisher context indicates that CalPERS added private debt as a new strategic asset class in November 2021, with a 5% dedicated allocation to private credit. The program is scheduled to begin July 1, 2022. Board agenda materials put the proposed consulting fee at approximately $425,000 per year.
According to related coverage, the consultant search drew several bidders, including Meketa, RVK, and Verus, alongside Wilshire Associates, which already serves as CalPERS's general fund consultant. CalPERS had earlier issued a request for proposals for new investment consultants, seeking five-year contracts with multiple firms.
The mandate reflects CalPERS's broader push into private markets, as the pension expands its private debt exposure through a dedicated program overseen by an outside consultant.
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