Daily Feed
Neuberger Berman has closed its third specialty finance fund with over $1.6 billion.
The board is seeking a firm to assist with its $1.7 billion investment portfolio.
The firm will provide an analysis of investment assumptions, asset allocation strategy, management structure and performance results to the board in June.
Potential changes to the asset allocation could include eliminating the plan’s TIPS target in favor of other asset classes.
The city currently works with Meeder Investment Management.
The plan has been expected to launch an RFP for a general investment consultant due to the upcoming contract expiration of its incumbent.
The city is seeking investment advisory services related to its police and fire and employee retirement systems.
The plan is looking to replace its current manager that has “struggled continuously.”