Consultant/OCIO/Discretionary
The plan rehired its consultant, which has since joined the ranks of another firm, late last year.
The firm hired a v.p. within its alternatives consulting group to provide consulting and research across alternatives with a particular focus on private equity and private debt.
The investment advisor will serve for an initial one-year term.
The city is also looking to establish a deferred compensation committee.
The plan first began discussing the search in June due to the upcoming contract expiration of its incumbent.
The retirement fund is conducting the search due to state statute.
The current consultant’s contract is slated to expire on June 30.
The plan last conducted a real estate consultant search in 2017.
The plans launched a search in September as they looked for improved investment performance.
2023 was supposed to be a down year for foundations and endowments with a potentially recessionary environment, however, equity and bond returns came out in the green, thanks in part to strong fourth quarters, leaving investors and allocators with a more optimistic outlook for their portfolios entering 2024.