Key Takeaways
- • The Pennsylvania State Employees' Retirement System (PSERS), a $76bn public pension, has issued a request for proposals (RFP) to hire an investment consultant, according to PEI Private Equity.
- • The RFP covers investment consulting (IC) services, a standard mandate for a pension of this size.
- • The story was reported by Tom Brown on 21 November 2022 and is based on a brief announcement with limited detail on scope, timeline, or evaluation criteria.
Summary
The Pennsylvania State Employees' Retirement System (PSERS) has issued a request for proposals (RFP) for investment consulting services, PEI Private Equity reported on 21 November 2022. The $76bn public pension is seeking an investment consultant to support its investment program.
The report, written by Tom Brown, is brief and does not disclose the full scope of the mandate, the submission deadline, or the selection timeline. Investment consultants typically advise public pension boards on asset allocation, manager selection, performance monitoring, and governance, so the mandate is likely to draw interest from consulting firms serving the institutional market.
The announcement is a routine procurement step for a large public plan, but it may signal a review of its existing advisory arrangements. Allocators and consultants tracking public pension activity should monitor PSERS for further details on the RFP terms and the eventual award.
The report, written by Tom Brown, is brief and does not disclose the full scope of the mandate, the submission deadline, or the selection timeline. Investment consultants typically advise public pension boards on asset allocation, manager selection, performance monitoring, and governance, so the mandate is likely to draw interest from consulting firms serving the institutional market.
The announcement is a routine procurement step for a large public plan, but it may signal a review of its existing advisory arrangements. Allocators and consultants tracking public pension activity should monitor PSERS for further details on the RFP terms and the eventual award.
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