California Public Employees' Retirement System (CalPERS) has published a tender advertisement to search for an infrastructure investment consultant that would serve as an independent adviser to the pension fund's investment committee.

The contract of current consultant Meketa Investment Group is scheduled to expire on March 1, 2015 and CalPERS is seeking a new advisor. However Meketa, which has served as infrastructure consultant since January 2010, is invited to rebid.

The advisor will provide professional assistance regarding strategy and policy analysis, and conduct performance analysis and monitoring, for Infrastructure Investments.

The new contract is expected to be for five years and CalPERS officials expect to make a decision in about 10 months.

Applicants must have a minimum of three years' experience providing consulting services to public pension funds with at least $10 billion in assets. That experience must have also occurred in the last five years.

The deadline for submission of proposals is May 29 at 3 p.m. PDT.

The California Public Employees' Retirement System (CalPERS), based in Sacramento, has $289.1 billion under management.

The RFP is available on CalPERS' website:

https://www.calpers.ca.gov/index.jsp?bc=/business/opportunities/choose/viewsolicitations.xml&id=6