By Muskan Arora
The $3.6B City of Austin Employees’ Retirement System has tapped Albourne Partners as its first private markets investment consultant, following the launch of a request for proposals (RFPs) in January.
As the pension fund aims to increase its private markets exposure, Albourne will provide non-discretionary consulting services across the private markets space, including strategic planning, pacing, portfolio construction, manager selection, and performance evaluation.
“Albourne’s global expertise, analytical rigor, and deep understanding of private markets will be invaluable as we continue to strengthen the fund and fulfil our promise to members,” said Christopher Hanson, executive director of the pension fund, in the news release.
Materials from a November 2024 meeting noted, in years prior, the pension plan had no set target allocation to private credit, despite being invested in the asset class. That same year, the COAERS Board approved new target allocations of 8% to private equity and 10% to private credit.
During its November 2024 meeting, the plan’s investment committee recommended the board reduce exposure to global equities and multi-asset strategies to hike allocation to private debt. In a statement at the time, the pension plan expressed it was building out its private markets program with an initial focus on private debt and real assets.
Meketa Investment Group is the pension plan’s general consultant.
