Searches and Hires

Contra Costa Water District casts net for investment consultant

Contra Costa Water District, Concord, Calif., is searching for an investment consultant for its $189 million defined benefit plan, said Jennifer Allen, district spokeswoman.

The district issued an RFP for a consultant to review and propose amendments to the plan's investment policy and asset allocation, provide quarterly reports to the district's retirement plan advisory committee and review manager performances, the RFP said. The chosen consultant would also advise the district's $43 million other post-employment benefits trust. Current consultant Conduent is invited to rebid.

The DB plan's target allocation is 30% intermediate fixed income; 13% each domestic large-cap growth equities and domestic large-cap value equities; 12% international developed equities; 8.5% domestic midcap equities; 5.5% domestic large-cap blend equities; 5% each domestic small-cap equities, international and emerging markets debt, and real estate; and 3% emerging markets equities.

The RFP is available on the district's website. Proposals are due by 10 a.m. PDT on May 1. Finalist interviews are tentatively scheduled to take place in mid-May, with a contract start date of July 1.