By Muskan Arora

The $61bn Colorado Public Employees’
Retirement Association plans to launch a search for a combined investment fund
investment consultant, by issuing an RFP in April.

With the intention of hiring a new
consultant by the end of the year, the system has designed how the consultant
will aid the investment committee, staff and managers, majorly focused on the
public markets.

The system aims to choose the finalists by
October.

For the investment committee, the
consultant will be responsible for asset/liability study, performance reporting
and independent third-party expect advisor to the board.

Working on collaboration with the staff, the
consultant will assist with public markets manager search and review, while
providing insights into the best practices. Further, the consultant will head
the operational due diligence of external and internal managers.

The RFP would focus on background,
asset/liability approach, consulting team, value-add expertise and securities
lending evaluation, fees and references and clients.

All the candidates for the RFP should be:

1.       1. Registered investment advisors
under the Investment Advisers Act of 1940.

2.       2. Have five years in business and
a lead consultant has seven years’ experience.

3.       3. Provide investment consulting
services to similar or larger sized clients.

4.       4. Must agree to be a Fiduciary to
the plan as defined in Colorado state law.

5.       5. Accept PERA’s Standard
Indemnification and Liability Limit Provisions.