Mississippi Looks For Alternatives Consultant

Mar 5 2007 | 10:26am ET

The $20.5 billion Public Employees’ Retirement System of Mississippi has issued a request for information for an alternative investments consultant to help the system jumpstart its absolute return, private equity and real estate investment programs.

In 2005, legislation was passed to allow the system to invest up to 10% of its portfolio in alternative investments.  In mid-2006, the system’s board adopted target allocations of 7% to real estate, 5% to private equity and 5% to absolute return investments.

Currently, the system has 5% of its portfolio funded or committed to real estate, and intends to soon expand its allocation to include timber and private equity. PERS’ board has determined that part of the absolute return allocation will include a global tactical asset allocation component; but it has not yet hired managers in this area.

The deadline for the RFI is March 20 and the board is expected to approve the finalists by April 24. The RFI is available on PERS’ Web site.


In Depth

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Paulson Makes Record $400M Donation to Harvard University

Jun 3 2015 | 12:59pm ET

Harvard University's School of Engineering and Applied Sciences will receive a $...

Guest Contributor

When Less is More: The Case for Concentrated Equity Strategies

Jun 1 2015 | 7:59am ET

The conventional wisdom is that wide diversification is the “holy grail,” as...

 

Sponsored Content

Editor's Note