According to an announcement, the State Retirement Agency, on behalf of the Board of Trustees for the Maryland Retirement and Pension System, is soliciting responses to two RFIs (request for information) from firms interested in providing Private Equity Non-Discretionary Consulting Services and Real Estate Non-Discretionary Consulting Services.
According to the RFI, the $32 billion system (as of September 30, 2009) may choose:
- One or more firms to provide only one type of consulting services described in the RFI,
- One or more firms to provide multiple types of consulting services described in the RFI, or
- Not to choose any firms to provide consulting services.
According to the RFI, the Maryland system has about $3.9 billion in total private equity commitments, of which $1.3 billion is drawn. As of September 30, the Maryland system has roughly $833 million invested in REITs, $324 million in its direct real estate program and $762 million in private funds. Additionally, according to the RFI, the program has approximately $900 million committee to private real estate funds, which has not been drawn.
Responses to the RFIs (hardcopy AND electronic) are due by 4:00 PM (EST) on Tuesday, December 22, 2009. Questions relating to the RFI must be submitted by email by December 1, and answers to those questions will be posted to the SRA’s website on December 8.
The RFI anticipates a “likely contract start date” on or around May 1, 2010.
The private equity RFI is online at http://www.sra.state.md.us/pdf/RFI_PE-2009-11-16.pdf. The real estate RFI is online at http://www.sra.state.md.us/pdf/RFI_RE-2009-11-16.pdf
Additionally, the RFIs may be obtained by contacting Robert Burd of the system’s investment staff at 410-625-5571 or firstname.lastname@example.org.