CalPERS Seeking Global Equity, Private Equity “Transition” Managers
Pension looking for successful early-stage managers who no longer fit its “Emerging” category.
The California Public Employees Retirement System (CalPERS) opened its 2017 Transition Manager Solicitation to all managers in the Global Equity and Private Equity asset classes Tuesday.
The $324 billion pension is seeking successful early-stage managers who no longer fit under its emerging managers category.
Applications must go through CalPERS Investment Proposal Submission (IPS) Portal. Global Equity proposals are due 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 CalPERS Transition Manager program’s mission is to meet the fund’s strategic investments needs while maintaining the ability to create risk-adjusted returns.
“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, in a statement. “We plan to make the new commitments over the next five years.”
For more information, interested applicants can also watch CalPERS’ Transition Manager Solicitation webinar and may also submit questions via email by July 15, which the CalPERS investment staff will review and answer questions on the CalPERS website by August 15. Those interested can also sign up for email updates from the CalPERS investment office.