DiNapoli Issues RFP Seeking Managers
for Emerging Manager Program
Professionals Needed to Manage $1 Billion in New Commitments
New York State Comptroller Thomas P. DiNapoli today issued a Request for Proposals seeking managers for the New York State Common Retirement Fund’s Private Equity Emerging Manager Program. The RFP follows the Comptroller’s recently announced commitment to increase the allocation to the program by $1 billion over the next several years.
“Our Emerging Manager Program gives the Fund exposure to a broader universe in the private equity market, particularly in segments that have been historically undercapitalized,” DiNapoli said. “As we increase our allocation to the program, we also need to increase the number of talented managers investing this capital on behalf of the Fund. Through the RFP process, we expect to identify best-in-class managers who have the demonstrated abilities and investment strategies to construct a well-diversified portfolio that will generate superior risk-adjusted returns.”
The complete RFP, which can be downloaded from the Comptroller’s website, seeks fund managers with a demonstrated track record in private equity investment activities, excellent deal flow and an exemplary record of establishing equal employment opportunities within their organizations. The managers hired to invest this capital will be expected to actively seek minority- and women-owned emerging firms when identifying new investment opportunities for the Fund.
The RFP includes a seven-page questionnaire that must be completed, in full, by interested private equity managers. The completed questionnaire must be received by noon, January 4, 2008, in order for interested managers to be considered. Materials should be sent to:
Response to RFP for Emerging Manager Program, CRF
c/o Pamela Moore
59 Maiden Lane, 30th Floor
New York, NY 10038
Questions regarding the RFP should be directed to firstname.lastname@example.org.
About the Common Retirement Fund
The $154.5 billion New York State Common Retirement Fund is the third largest public pension plan in the United States with more than one million members, retirees and beneficiaries from state and local governments. Comptroller DiNapoli is the sole trustee of the Fund and manages a diversified portfolio of public and private equities, fixed income, real estate and alternative instruments.