Institution: Alameda County Employees’ Retirement Association (ACERA)
Headquarters: Oakland, US
AUM: $11.35 billion
Alameda County Employees’ Retirement Association (ACERA) has discussed the search for a new investment consultant, according to the firm’s September meeting minutes. The pension’s five-year contract with its current investment consultant, Verus Investment Consulting Services, is due to end on 31 May, 2023, and the pension will select a replacement.
The criteria within this upcoming RFP has not been confirmed. However, the pension has outlined a proposed timeline that will lead to the appointment of a new consultant.
- In the week commencing 19 September, the committee will discuss the full timeline, staff involved and selection criteria. Until 14 November, the pension will finalise the RFP.
- The RFP will be posted on the ACERA website on 14 November.
- By 5 December, the pension will start to accept bids from prospective investment firms with a deadline set for 19 December.
- From 3 January to 10 February, bids for the contract will be reviewed internally.
- By 8 March, the pension will announce and confirm three finalists to present to the rest of the committee.
- By 21 April, a new investment consultant will be selected and confirmed, following contract negotiations.
As illustrated below, ACERA’s recent private debt commitments have focused on distressed and subordinated/mezzanine debt vehicles in North America.
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