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The retirement system received 29 total responses to a fixed-income RFP issued earlier this year.
The fund will soon launch a search for a permanent ceo.
The strategy exceeded its initial $1.25 billion hard cap.
The pension plan made two credit commitments totaling $60 million in the second quarter.
The investment consulting firm’s 58-member team and $124 billion in non-discretionary assets under advisement will move to Cresset in a deal expected to close later this year.
The pension plan also hired a manager to handle a customized treasury mandate.
The retirement system’s current consultant was rehired after a similar RFP process in 2018.
The city expects to see council action on a finalist in November.
Rishi Chhabria will lead the firm’s capital formation strategies and investor relations efforts.
The pension plan approved a new asset allocation policy that increased its targets to core bonds and international large-cap equity in the second quarter.