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ACERA gears up to issue RFP for a new investment consultant

The Oakland-based firm will be accepting bids for a new investment consultant in the upcoming months.

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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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