CalPERS Seeking Transition Managers in Global and Private Equity
July 11, 2017
Communications & Stakeholder Relations
Brad W. Pacheco, Deputy Executive Officer
Wayne Davis, Chief, Office of Public Affairs
Contact: Megan White, Information Officer
Solicitation for qualified managers opens today and will close late August
SACRAMENTO, CA - The California Public Employees' Retirement System today announced the opening of the 2017 Transition Manager Solicitation. The solicitation is open to all qualified managers in the Global Equity and Private Equity asset classes.
Interested firms must apply through the Investment Proposal Submission (IPS) Portal. Proposals for Global Equity must be submitted via the portal by August 29 at 3:00 p.m., PDT. Private Equity proposals must be submitted by August 31 at 3:00 p.m., PDT.
The goal of the CalPERS Transition Manager program is to generate appropriate risk-adjusted returns while meeting the Fund's strategic investments needs. Firms do not need to be past participants of CalPERS' Emerging & Transition Manager programs to submit a proposal.
"The CalPERS Transition Manager program was designed to provide a path of growth for successful early stage managers who no longer fit the parameters of an Emerging Manager," said Clinton Stevenson, CalPERS investment director, Investment Manager Engagement Programs. "We plan to make the new commitments over the next five years."
Interested parties may watch the Transition Manager Solicitation webinar for more information. Questions about the solicitation must be submitted via email by July 25. CalPERS Investment staff will review all question and post answers on the CalPERS website by August 15. Individuals can also Subscribe for Manager Solicitations & News for email updates from the CalPERS Investment Office.
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.8 million members in the CalPERS retirement system and administers benefits for 1.4 million members and their families in our health program. CalPERS' total fund market value currently stands at approximately $324 billion. For more information, visit www.calpers.ca.gov.