Searches And Hires
The plan last rehired its consultant following an RFP search process in 2020.
The retirement trust doubled its allocation to a recently hired real estate manager at its board meeting this week.
The search will seek an integrated consultant for performance and benchmarking measurement.
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 retirement system replaced one of its domestic large-cap value equity managers due to concerns about succession planning.
The selected firm will manage the retirement plan’s entire balanced portfolio.
The selected firm’s responsibilities will include investment management and consulting services in addition to financial wellness consulting.
The plan will target $750 million with up to 11 funds next year.
Philanthropist MacKenzie Scott has donated more than $590 million to at least 14 historically Black colleges and universities this year to grow their endowments.