Searches and Hires

Alberta Local Authorities Pension Plan seeks investment consultant

Local Authorities Pension Plan, Edmonton, Alberta, is searching for an investment consultant for the C$39 billion ($31.1 billion) pension fund.

The selected consultant will work under a five-year contract, effective Jan. 1, 2018, with the possibility of two, two-year extensions at the discretion of pension fund officials, according to the RFP.

The consultant will conduct an asset-liability study of the plan and monitor the performance of the C$95.7 billion Alberta Investment Management Corp., Edmonton, which manages the plan's investments in accordance with an allocation established by LAPP.

The pension fund's asset allocation as of Dec. 31 was 42.6% public equity, 29.3% fixed income, 24.4% inflation-sensitive and alternative investments, 2.9% private equity, and 0.8% strategic opportunities, tactical allocation and currency hedges.

Mercer is the plan's current investment consultant, according to the plan's website. It was not known if the firm can rebid; officials at LAPP could not be reached for details.

The RFP is available on the Alberta Purchasing Connection, the province's public procurement website. Proposals are due at 3 p.m. MDT Sept. 15; a selection is expected Nov. 17.