Searches And Hires
The retirement plan is looking to replace an existing core-plus fixed-income manager.
The plan will consider hiring two domestic equity managers to replace existing mandates with the same firm.
The retirement system also terminated an international growth equity mandate.
The requested services include asset allocation, investment policy and strategy recommendations.
The pension disclosed two private equity commitments from May that totaled $60 million.
The city’s deferred compensation plan currently has three investment consultants.
The municipality expects to award a contract within 45 calendar days.
The plan’s incumbent was rehired in 2015 following a similar RFP process.
The retirement system conducted a similar search in 2016 when it rehired its incumbent manager.
The plan hired a manager to implement its maiden 3% target to private debt as part of a new asset allocation policy in March.