US - The $11bn San Francisco Employees Retirement System (SFERS) is looking to hire a new general investment consultant.
David Kushner, SFERS's new deputy director of investments, said that the fund is using Cooper Consultants to conduct the search. Kushner declined to reveal any further details. Angeles Investment Advisors is the fund's current investment consultant.
Additionally, SFERS is looking to hire a new alternative investment consultant. The fund currently has $1.65bn - 15% of its total assets - committed to alternatives. The search for a new consultant will close on November 29, and SFERS aims to have a new consultant in place by the end of February. Incumbent consultant Cambridge Associates has been invited to reapply for the position.
SFERS has also awarded Oaktree Capital Management (OCM) a $20m alternatives mandate. The pension plan will invest in the OCM Opportunities Fund IV, a distressed debt fund.
By Geoffrey Ho
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