NYC Board of Education issues RFP for investment consultant
By Kevin Olsen | February 13, 2013 3:19 pm
New York City Board of Education Retirement System is searching for an investment consultant, confirmed Alexander Kazazis, paralegal for the $3.9 billion pension fund.
Incumbent Buck Consultants is invited to rebid. Its contract expires March 31.
The pension fund is part of the $127.5 billion New York City Retirement Systems.
The selected consultant will provide investment advice in conjunction with New York City Comptroller John Liu, custodian and trustee of the New York City Retirement Systems.
The pension plan has a current asset allocation of 37.7% domestic equity, 19.7% developed markets equity, 17.9% core fixed income, 5.9% high yield, 4.7% emerging markets equity, 4.5% TIPS, 3.2% private equity, 2.4% bank loans, 2.3% real estate, 1.2% cash and 0.5% economically targeted investments.
The RFP is available on the pension fund's website. Proposals are due at 11:30 a.m. EST March 1. A hiring decision is expected by March 31.