The city last conducted a search for the services in 2020.
The city hired Public Trust Advisors to handle the services following an RFP issued at the start of the decade.
The recommended core bond hire represents “one of the final steps in realizing the restructuring of KCERA’s overall fixed income portfolio” from 2023.
The state’s division of investment is seeking heads of private equity, real assets and real estate.
The system appears to have filled the role internally.
The city is seeking a firm to provide services for its $33 million investment portfolio.
The plan is also expected to reduce positions in U.S. small-cap and explore enhanced indexing as parts of an overall global equity portfolio roadmap discussed last week.
The investment board has also made up to $1.4 billion in new commitments.
The city last completed a search for the services in 2021.
The selected firm’s responsibilities will include investment management and consulting services in addition to financial wellness consulting.