Mississippi Looks For Alternatives Consultant

Mar 5 2007 | 11:26am 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.


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