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.
