Seattle City Seeks Consultants
February 6, 2007
The $1.5 billion Seattle City Employees' Retirement System is searching for several consultants to assist the fund as it makes maiden investments in real estate, hedge funds and private equity.
According to the plan's Web site, the board is seeking to add a variety of resources to assist it in considering new investment opportunities, as well as monitor it existing portfolio.
The plan has issued RFPs for consultants to assist with long-only equity, real estate, hedge funds, private equity/venture capital, and mezzanine debt. The contracts up for grabs are for four years, beginning on June 1, 2007, with the option of a one year extension.
Additionally, the RFPs note that in the long-only asset class, the board expects to continue searching for managers as it has done in the past, but that the consultants would come into play once the list of candidates has been narrowed down.
The plan's asset allocation consists of 48% domestic equity, 10% international equity, 14% fixed-income, 12% real estate, 10% alternatives, 5% mezzanine debt and 1% cash.
Further details regarding the searches could not be obtained, as Mel Robertson, acting executive director with the plan, could not be reached by press time.
The deadline for RFP submissions for all of the searches is Feb. 23.
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