Seattle Sleepless For Hedge Fund, Private Equity Consultants

Feb 13 2007 | 3:38pm ET

The $2 billion Seattle City Employees' Retirement System is seeking requests for proposals from hedge fund and private equity consultants to analyze the city’s current portfolio and see how it compares to portfolios of other “sophisticated public pension systems and foundations.”

The system currently allocates 10% of its total capital to hedge funds, with most of that money invested in seven funds of funds and two single manager funds.

“We like the positions we currently hold and are not looking for a makeover,” according to the system. “We are seeking a resource to assist with the evaluation and due diligence of potential new investments, as well as performance monitoring of all holdings.”

The system currently has less than 1% of its total capital invested in private equity and is interested in increasing its exposure to private equity, and “will consider modifying its asset allocation to do so.”

The contract period is four years commencing June 1 and expiring May 31, 2011. Copies of the RFPs are available on the system’s Web site.  The deadline for both RFPs is Feb. 23.

 


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