Private Equity Board Consultant

2026-11-03

SCOPE OF WORK The Private Equity Consultant will provide the following services in accordance with the Investment Resolution adopted by the Investment Committee . 1 . Provide independent analysis and advice to the Investment Committee of the Teachers ’ Retirement Board regarding global industry and market trends , investment strategies , and conditions , including positive and / or negative trends with respect to the Private Equity industry . This includes , but is not limited to , Traditional Strategies that include : buyout ( mega , large , mid , and small ), debt - related strategies , growth , venture capital , coinvestments , secondaries and Non - Traditional Strategies that include : Longer - Term Strategies , Multi - Strategy , Special Mandates . Such analysis and advice is to be provided verbally or by email on an ongoing basis and in the form of written semi - annual reports ( See Item # 2 ). In conjunction with the above , periodically comment and provide advice regarding the pros and cons of expanding ( or contracting , if applicable ) the scope of the private equity asset class in which CalSTRS invests ( either within the private equity program or otherwise ). 2 . Monitor the performance of the private equity portfolio including partnership investments , co - investments , secondary interests , and other investment strategies as applicable . Prepare and present semi - annual performance review reports to the Investment Committee . Reports should cover private equity industry trends as well as an in - depth analysis of the CalSTRS private equity portfolio . Consideration should be given to underlying industry concentration and sub - asset allocations ( i . e ., buyout , debt - related strategies , venture capital , longer - term strategies , multi - strategy , special mandates ). Monitor the aggregated portfolio to ensure that the program is managed according to policy . Monitor portfolio performance against the performance ( short - term and long - term ) benchmarks ( both IRR and TWR ) and provide context on market trends / opportunities . Portfolio data will be provided by a third party . 3 . Review and comment on the investment strategy , policies , and practices of the Private Equity Program following discussion and analysis with the Investment Committee and suggest changes if appropriate . 4 . Review and comment on the annual business plan proposed by staff . 5 . Attend Investment Committee and / or Board meetings or legislative hearings as requested by Investment staff . 6 . Periodically review the existing benchmarks ( performance and compensation ) for the Private Equity Program and recommend changes as appropriate .

California

2026-03-27