Institutional Investors

Allegheny County conducts alternative consultant search


Allegheny County Employees' Retirement System is finishing a search for an alternative investment consultant that is seeking expertise in the areas of real estate, private equity, venture capital, commodities and/or hedged strategies.

Responses to the request for proposals were due back on 7 August and trustees plan to make a final determination on a firm by the end of September. The $600 million pension fund is asking that consultants "maximise" the security of the alternative investment portfolio and "minimize" the potential for investment losses due to due diligence failures.

The alternative investment consultant would