Consultant/OCIO/Discretionary
The city is seeking investment consulting services for its more than $1.3 billion in trust fund assets.
The company has hired Goldman Sachs Asset Management as outsourced cio for its U.S. and Puerto Rico retirement plans.
The plan terminated its previous consultant less than one year into its contract.
The investment board’s current consultant will see its contract expire in June.
The retirement system also retained its three core fixed-income managers last week.
The retirement system also replaced two underperforming equity managers in the second quarter.
The plan is expected to issue the RFP ahead of its incumbent’s expiring contract.
The plan’s current alternatives consultant was first hired in 2017.
The retirement system received proposals from five firms following an RFP issued in January.
Expected services include investment consulting, plan administration and participant education.