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Contra Costa on the hunt for private market advisors

The advisory scope for potential candidates includes private equity, credit, real assets and opportunistic investments.

The Contra Costa County Employees’ Retirement Association is looking for market advisors for its private equity portfolio, including for real assets and agriculture investments.

The association said in a request for proposals that it envisions the advisor will consult with the board and fund managers in a non-discretionary relationship, but is open to other models and will consider applications from funds of funds or discretionary advisors.

Contra Costa states that an advisors should be able to advise “on low correlations-to-growth assets, particularly in times of distress”, including energy, materials, timber, agricultural land, transportation and infrastructure assets.

Questionnaires are due by September 16, although registration for applications begins earlier.

CCCERA is a pension fund  serving the majority of employees in the Contra Costa county of California with $7.1 billion under management. It invests mainly in fund of funds although a small portion of its portfolio consists of venture capital and buyout vehicles.

Its real assets portfolio stood at over $355 million last year, with future commitments of $96.7 million at the end of 2015, according to fund documents. Investment managers through which the fund has invested in agriculture or other real assets include natural resources-focused Aether Investment Partners, Equilibrium Capital.